'Heavily Publicized and Scrutinized': Tech Leaders' Concerns Over Reputational Risks Soar
"This reputational risk can lead to loss of customers as they seek products from other companies, drops in revenue, new or more stringent regulations, and an adjustment in growth trajectory," said Tom Quigley. a Marsh practice leader and author of a new risk study.
February 09, 2023 at 07:48 AM
2 minute read
Reputational risk is rocketing up the list of major concerns for risk leaders, according to a new study by insurance broker Marsh.
Eighty percent of respondents in the study, which surveyed 300 risk leaders at tech companies in 29 countries, said reputational risk had become something to worry about, and they ranked it as the fourth-biggest risk facing their organizations, beating other concerns such as regulatory compliance and supply chain disruption.
Data privacy, tech glitches and digital business downtime all ranked more highly, but reputational risk is notable for its fast rise. In 2022, reputational risk ranked 10th among risks to watch.
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