UK businesses are taking a more proactive approach to risk management than their global peers, according to Aon’s latest Global Risk Management Survey. Nearly eight in ten UK respondents (79%) say their boards are directly involved in risk oversight, compared with 61% globally, suggesting UK leadership is taking greater responsibility for organisational risk.

Some 75% of UK firms have dedicated risk or insurance departments, compared with 68% globally. The main risks for UK businesses are cyber attacks and data breaches, business interruption and economic slowdown, reflecting the combined impact of digital, operational and economic pressures.

Looking ahead, UK organisations stand out by ranking artificial intelligence and increasing competition among their top emerging risks for the next three years, showing growing awareness of how technology and innovation could reshape exposure.

UK firms also take a more advanced approach to measuring and financing risk. Nearly 69% measure their total cost of insurable risk, compared with 54% globally, 75% operate or plan to set up a captive insurance vehicle.

Rob Kemp, head of commercial risk for Aon UK, said: “The findings show that UK boards are adopting a more structured and data-driven approach to risk oversight. Many are using analytics and specialist insight to better understand emerging risks – particularly around technologies such as AI – as well as to balance innovation with regulatory and ethical considerations.

“The risks businesses face today demand more than incremental change. They call for leaders to view resilience as a source of competitive advantage – harnessing data and analytics to anticipate disruption and enabling them to act decisively in protecting and growing their organisations.”

Aon's survey drew insights from nearly 3,000 risk professionals across 63 countries and 16 industries.

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