Skip to content

Carrier Management

Critical Information for P/C Carrier Executives

Highlights

  • Weather the Talent Gap
  • Writing, Underwriting and Generative AI (Magazine Intro)
  • Broken Cyber Promises
  • Carrier Management
  • C-Suite
  • News
  • Research
  • Leadership
  • Markets
  • Regulation
  • Top 50
  • Members Only
  • Join
  • Login
  • Boardroom Agenda
  • CEO / Chief Executive
  • CFO / Financial
  • Underwriting
  • CTO / Technology
  • Risk
  • Brand Management & Sales
  • Investment Officers
  • Claims / Legal
  • Talent Management
Remote Work Saves Global Commuters 72 Minutes a Day: Study
Ranks of Quiet Quitters Climb as Layoffs Mount
  • U.S.
  • International
  • Industry News
  • Government
  • Technology & Science
Marsh: Global Commercial Insurance Pricing Up 4% in Q4 2022
Gallagher Re: InsurTech Funding Falls to Lowest Quarterly Level Since 2020

See all News

  • Executive Spotlight
  • Innovation
  • Strategy
  • Leadership
  • Performance
  • Growth Initiatives
  • Social Responsibility
Insuring the Metaverse: Decoding Risk in a New World Opportunities Across the Metaverse for the Insurance Industry
Swiss Re Revamps Structure by Splitting Reinsurance Biz, Creating Client Business Unit
  • Reinsurance
  • Emerging Markets
  • Global Economy
  • Personal Lines
  • Commercial Lines
  • Specialty
Insurers Leery of Hyundais and Kias Famous on Social Media for Being Easy to Steal
Slide Will Assume 91,000 Policies and Premium in United P&C Runoff in Florida
  • Insurance Regulation
  • Securities Regulation
  • Accounting & Tax
  • Rating Agencies
AM Best Downgrades California Earthquake Authority Credit Ratings
Recession Early Warning: More Misleading Earnings Reports
Laid Off Tech Workers Are About to Get Help—From Allstate
What to Expect: 7 InsurTech Predictions for 2023
Reinsurers Winning on Price, Not Coverage Restrictions: Guy Carpenter
The Perfect Storm: How Insurers Can Weather a Talent, Skills Gap

See all Top 50

FTX Liability Tentacles Spread Far
How Automation Can Help Manage the Underwriting Process
Insurance’s Wildfire Crisis: Three Keys for Rethinking Risk, Response
How Did You Make Them Feel?

See all Members Only Content

Benefits

  • News for the P/C Insurance C-Suite - Focused reporting from reliable sources and experienced financial journalists.
  • Research and Analysis Not Found Elsewhere - Exclusive content from researchers think tanks, industry experts and respected analysts.
  • High-Profile Peers - Interviews with thought leaders in the global and U.S. insurance industry.

Online Access

Complete, unrestricted access to the popular CarrierManagement.com website, which provides insurance company C-suite executives with daily news, white papers, advice, instruction and editorial on how to manage insurance companies more efficiently and more effectively.

Print Edition

4 quarterly issues of Carrier Management magazine every year.

Risk Managers Want More Involvement in Organizational ESG Strategy: WTW Survey

Print Email
December 5, 2022
  • Article
  • 0 Comments
New You can now listen to Carrier Management articles!

More than half of risk managers are significantly involved in their organization’s environmental, social and governance (ESG) efforts, but 77 percent believe they should take an active or more active role in ESG strategy and initiatives, according to a survey of risk managers by WTW.

Of the 312 risk managers who responded from companies around the world, 74 percent said an improved ESG score is a core focus for their business. But while a majority of risk managers said their organizations have ESG goals, only 17 percent have documented targets with clear milestones for ESG risks.

ESG priorities also rank lower in North American than in other regions. Overall, 24 percent of U.S. companies have set ESG risk management targets with clear milestones.

“Many organizations equate ESG risk with reputational risk, but to manage ESG effectively it must be broken down into measured, manageable risks, and a risk management process established around them,” said Lisa Lipuma, director of enterprise risk consulting in North America at WTW. “Companies should first take a ground-up look at what ESG is, then identify the specific risks they face through a risk-mapping exercise. Finally, they should assess the impact, likelihood and velocity of each risk before bringing them into the enterprise risk management framework.”

Three-quarters of respondents have taken actions to address environmental liability and climate risks. However, many have done so without adopting specific goals or key performance indicators.

Risk management and governance intersect most frequently in due diligence linked to risk advisor, broker and insurance-carrier appointments and reviews. Two-thirds of risk manager respondents say they are extensively involved in these areas, compared with around 40 percent that carry out similar work related to suppliers and investment opportunities. Risk managers identified key social risk management priorities as data privacy and cyber risk (97 percent), workplace safety (88 percent), product liability (79 percent) and employment practice liability (78 percent).

Print Email
Industry NewsRisk

Was this article valuable?

Thank you! Please tell us what we can do to improve this article.

Thank you! % of people found this article valuable. Please tell us what you liked about it.

Here are more articles you may enjoy.

Insurance’s Wildfire Crisis: Three Keys for Rethinking Risk, Response
1/1 Renewals: ‘They Got Done’; Carrier Overreliance on Reinsurers Corrected
S&P Predicts Reinsurers Will Continue Pricing Momentum During 2023
InsurTech Profile: Policygenius CEO Encourages Persistence, Resilience

Latest Magazine

Carrier Management magazine
View All Request Sample

Research & Whitepapers

Free Newsletter

NewsletterSign up to receive daily news!

News

  • Marsh: Global Commercial Insurance Pricing Up 4% in Q4 2022
  • Gallagher Re: InsurTech Funding Falls to Lowest Quarterly Level Since 2020
  • The Latest Launches from ExecutivePerils, Corvus, Hippo
  • Swiss Re Revamps Structure by Splitting Reinsurance Biz, Creating Client Business Unit
  • Insurers Leery of Hyundais and Kias Famous on Social Media for Being Easy to Steal
  • Chubb Q4 Net Income Down 39%
  • C-Suite
  • News
  • Leadership
  • Markets
  • Regulation
  • Top 50
  • Members Only
  • Videos

Headlines

  • Weather the Talent Gap
  • Writing, Underwriting and Generative AI (Magazine Intro)
  • Broken Cyber Promises

Resources

  • Videos / Podcasts
  • Contributors

Popular Topics

  • Boardroom Agenda
  • Technology
  • Financial
  • News

Brand Spotlight

  • AgentSync
  • Majesco
  • Notion
  • Origami Risk
  • Verisk
  • Vertafore

Connect with us

  • Email Newsletters
  • Twitter
  • Facebook
  • LinkedIn Group
  • Do Not Sell My Info

Carrier Management

  • Submit Content
  • Advertise
  • Subscribe
  • Contact Us

Wells Media Group Network

  • Carrier Management iconCarrier Management
  • Insurance Journal iconInsurance Journal
  • Claims Journal iconClaims Journal
  • IJ Academy iconInsurance Journal Academy
  • Insurance Journal TV iconInsurance Journal TV
  • MyNewMarkets.com iconMyNewMarkets.com
© 2023 by Wells Media Group, Inc. Privacy Policy | Terms & Conditions | Site Map

We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.