Insurance broker Marsh said it has created a risk think tank aimed to alert chief executives about risks their businesses face and few understand, judging by a recent survey.
"If a natural disaster were to occur, the CEO and the board are now held accountable," said John Merkovsky, Marsh global leader for Risk Consulting, during a conference call today. "It is no longer acceptable for a CEO to just turn around after a disaster and say, 'It's just Mother Nature. I had no idea that could have happened.'"
Risk managers, he pointed out, were the sole executives responsible for securing insurance for the corporation at the best price, he said. But the risk landscape has changed, and with it a wider responsibility that extends to the chief executive leadership.
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