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Directors' Liability Survey 2022 - Regional overview, Latin America

Cyber Risk Management|Medioambiental
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By Marcela Visbal Acuña | July 5, 2022

Why directors’ in Latin America are likely to have different priorities from a director in Asia or Europe

The risk concerns of global companies and their directors are unique to their circumstances, and a director in Latin America is very likely to have different priorities from a director in Asia or Europe for example. That said, the risk concerns are often similar in nature and it is the degree of intensity which is the variable factor.

No risk overview can ignore the volatility of global events. The pandemic and more recent geopolitical events have changed the global risk perspective beyond all recognition.

In the Directors’ Liability Survey, the risks for the business that most concerned directors are the economic climate and cyber-attacks, followed by the consequences of the pandemic, and then technological advances and climate change. These results correlate with the report on risks published by the World Economic Forum last year and we can say that Boards are focusing on the same risks globally.

In second place are the consequences of the COVID-19 pandemic with cyber attacks in third place.

Focusing specifically on Latin America, we see that as a region it places the most importance on economic climate as an underlying risk. In second place are the consequences of the COVID-19 pandemic with cyber attacks in third place. The region also attaches greater importance to all risks in general than in the other territories.

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