SAN DIEGO--More than half of U.S. businesses sustained a harmful high impact loss event they thought was unlikely to occur last year, still nearly half took no risk management steps to prevent a reoccurrence, according to a survey.
The study, "Excellence in Risk Management Study," conducted by the Risk and Insurance Management Society and Marsh, listed major natural disasters, subprime market issues, and product recalls as examples of high impact/low impact events that have hit companies
According to results released at the RIMS conference here, 57 percent of firms surveyed were impacted by such an event, which might also include a terrorist threat, significant loss of brand or significant internal fraud, in the last 12 months.
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