Marsh, risk consultant and insurance brokerage, published its first study on Risks for Latin American National and Family Companies 2023, which gathers the opinion of 700 business leaders in the region about the risks that concern them most and those that affect them the most after of the pandemic.
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The results of the study found that 49 percent of those surveyed consider changes in the sociopolitical environment to be a risk to their businesses. The widespread fear of not having adequate conditions for development, growth, and private property are factors that influence this perception.
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Cybersecurity, among the risks that companies consider the most.
It should be noted that cyber attacks (43 percent), extreme weather events (35 percent), consequences of Covid-19 (35 percent)ESG risks (31 percent) and even terrorist attacks (23 percent) are also considered by respondents as potential risks to their companies.
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Marsh notes that when it comes to cyberattacks, it’s interesting to see how companies have clearly identified the current reality, as it is both an external threat and an internal threat. Agreement with Kaspersky Lab, in 2022 25 percent of Latin American SMEs suffered a cyber attack and 30 percent do not have security on their work computers.
Companies begin to consider more the risks associated with natural phenomena.
Another of the risks that is beginning to worry small and medium-sized companies are the risks associated with extreme weather events and those related to the non-adoption of ESGlas practices. which are beginning to be more present in the agendas of SMEs, which represents an important advance in the change of mentality of many companies.
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“ESG mainstreaming is increasingly a source of competitive advantage for organizations that get it right. Identifying these risks helps to better understand social, environmental and corporate governance performance to make more informed investment decisions and obtain better risk management results”, mentioned Rodrigo Suárez, ESG Risk leader for Marsh Latin America and the Caribbean.
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