Global Enterprise Risk Management Survey 2010
This report is based on survey data collected in the third quarter of 2009 and captures the perspectives of principal risk professionals from leading organizations around the world. Through all of the survey findings, one theme is clear: the path to enterprise risk management maturity requires a careful balance between corporate vision, stakeholder commitment and risk philosophy.
Controlling the Costs of Workers’ Compensation
With the exception of terrorism, perhaps the most troubling risk for employers in the United States is workers’ compensation. Over the past three years, its costs have increased an average of 50 percent and currently account for $.67 of every dollar spent on casualty insurance. This increase does not reflect any corresponding increase in workplace hazards or change in the types of reported injuries or diseases. In fact, spurred by the U.S. Occupational Safety & Health Administration, employers have successfully reduced the frequency of workplace injuries by almost 40 percent since 1990. Despite these safety gains, workers’ compensation costs have continued to rise far faster than the medical inflation rate.