Health and safety risk for directors and officers in 2026: Why it remains the number one concern
The results of WTW's Global Directors’ and Officers’ Survey 2026 paint a striking picture: Health and safety has confirmed its position as the single most important risk facing directors and officers globally. For the third consecutive year, health and safety has occupied the top spot in the survey's risk rankings, ahead of perennial concerns such as cyber attack and data loss. In 2026, 77% of respondents rated health and safety as "very important" or "extremely important" — placing it ahead of data loss (76%) and cyber attack (75%).
This article examines the data behind that ranking, considers the factors that have driven health and safety to the forefront of the D&O risk landscape and explores what the trend means for directors, risk managers and their advisers.
The survey data: A persistent and dominant risk
Health and safety first claimed the number one position in the Global Directors’ and Officers’ Survey in 2024, with 84% of respondents considering it very important or extremely important, and it retained that ranking in 2025 with 80%, before recording 77% in 2026.
Historical comparison
| 2026 | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| Health and safety | 77% | 80% | 84% | 48% | 46% |
Source: Global D&O Liability Insurance Survey 2026
Although the headline percentage has declined slightly year-on-year, health and safety has remained firmly at the top of the table, consistently outpacing cyber attack (which ranked second in 2024 at 79%, and third in 2026 at 75%) and data loss (which has fluctuated between second and third place over the same period).
Top five risks by year
| 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|
| 1 | Cyber attack | Cyber attack | Health and safety 84% |
Health and safety 80% |
Health and safety 77% |
| 2 | Data loss | Data loss | Cyber attack (includes cyber extortion) 79% |
Data loss 77% | Data loss 76% |
| 3 | Cyber extortion | Cyber extortion |
Data loss 78% |
Cyber attack (includes cyber extortion) 77% |
Cyber attack (includes cyber extortion) 75% |
| 4 | Regulatory breach | Regulatory breach | Regulatory breach 74% |
Regulatory breach 74% |
Systems and controls 66% |
| 5 | Risk of a health and safety/environmental prosecutions safety legislation | Health and safety prosecutions | Systems and controls 73% |
Systems and controls 70% |
Regulatory breach 65% |
Source: Global D&O Liability Insurance Survey 2026
Before 2024, health and safety had never held the number one position in the global survey's history.
For much of the previous period, cyber attack and data loss concerns dominated the upper reaches of the risk rankings, and regulatory risk also featured prominently.
The emergence of health and safety at the top therefore represents a genuine structural shift in how directors and officers perceive their risk environment.
Regional variations
The global picture, however, masks significant regional differences.
Health and safety is ranked as the number one risk in Europe (72%), the Pacific region (87%) and the Middle East (100%). In Great Britain, North America, Asia and Latin America it ranks third behind cyber attack and data loss. In Africa it ranks fifth (albeit still at a percentage level akin to other geographical regions), with regulatory breach and systems and controls topping the list.
Country of office
| Europe | GB | Asia | North America | LatAm | Pacific | Africa | Middle East | |
|---|---|---|---|---|---|---|---|---|
| Health and safety | 72% | 80% | 72% | 80% | 74% | 87% | 85% | 100% |
Source: Global D&O Liability Insurance Survey 2026
The strength of the ranking in Europe likely reflects the more prescriptive regulatory frameworks in many European jurisdictions, and the particular cultural emphasis on workplace protection and employee wellbeing in countries such as France and Germany, both of which contributed significantly to the survey's European respondent base.
The Pacific region's high ranking may similarly reflect Australia's and New Zealand's well-established and rigorously enforced work health and safety legislative regimes.
Industry sector analysis
The industry-level data confirms that health and safety is a leading concern across almost all sectors. It ranks as the number one risk in the industrial sector (82%), healthcare (76%), transportation and retail (82%) and energy and utilities (89%). In the services sector, health and safety sits at number two (73%), just behind data loss (75%).
The notable outlier is the finance and insurance sector, where health and safety ranks only sixth (66%), with data loss (82%), cyber attack (82%) and systems and controls (77%) occupying the top three positions. This is nevertheless a remarkable result for the finance and insurance sector: Health and safety had not appeared in the top seven risks for that sector at all in the previous year's survey.
Top six risks by industry
| Finance and insurance | Industrial | Healthcare | Services | Transportation and retail | Energy and utilities | |
|---|---|---|---|---|---|---|
| 1 |
Data loss 82% |
Health and safety 82% |
Health and safety 76% |
Data loss 75% |
Health and safety 82% |
Health and safety 89% |
| 2 |
Cyber attack (includes cyber extortion) 82% |
Cyber attack (includes cyber extortion) 80% |
Data loss 74% |
Health and safety 73% |
Cyber attack (includes cyber extortion) 79% |
Data loss 80% |
| 3 |
Systems and controls 77% |
Data loss 76% |
Cyber attack (includes cyber extortion) 67% |
Cyber attack (includes cyber extortion) 72% |
Data loss 75% |
Regulatory breach 77% |
| 4 |
Corporate crimes/ failure to prevent 73% |
Systems and controls 68% |
Board structure composition, independence, diversity 64% |
Systems and controls 60% |
Supply chain issues 68% |
Systems and controls 77% |
| 5 |
Regulatory breach 73% |
Supply chain issues 66% |
Regulatory breach 62% |
Civil litigation-third-party claims 57% |
Regulatory breach 68% |
Cyber attack (includes cyber extortion) 73% |
| 6 |
Health and safety 66% |
Regulatory breach 65% |
Systems and controls 62% |
Regulatory breach 57% |
Geo-political risks 67% |
Bribery and corruption 71% |
Source: Global D&O Liability Insurance Survey 2026
The data suggests that health and safety is not merely a concern for traditionally hazardous or labour-intensive industries. Even in sectors where the risk profile is dominated by data and technology exposures, directors and officers are increasingly alive to the personal liability implications of health and safety failures.
Why has health and safety risen so sharply?
Several interconnected factors help to explain why health and safety has ascended and remained at the top of the D&O risk rankings since 2024.
The legacy of COVID-19
The COVID-19 pandemic was a watershed moment for corporate health and safety. It brought into sharp focus the obligation of directors and officers to protect employees, customers and the wider public from foreseeable health risks. As Reed Smith partner Andy Moss observed in his 2024 discussion with WTW, the pandemic "transformed the balance of relationships between employers and employees," creating a new set of expectations — particularly among younger generations of workers — around workplace health, safety and wellbeing.[1] Adopting policies and planning for future workplace health issues, including potential pandemics, remains a key topic for corporate boards and management.
Similarly, Daniel Kadar and Margot Lacaud of Reed Smith's Paris office noted that the pandemic "highlighted the critical importance of health and safety policies within companies," prompting directors and officers to prioritize these issues "to better prepare for future challenges".[2]
While we are now six years from the first lockdowns in early 2020, the legacy of the global pandemic clearly still resonates in boardrooms in 2026.
The broadening of health and safety beyond physical injury
Perhaps the most significant driver of the risk's elevation has been the expansion of what health and safety means in practice. As Catherine Lewis and Mark Pring of Reed Smith explained in their 2024 interview with WTW, the past couple of years have seen "an increased awareness of mental health risks rather than 'traditional' physical injury — the 'slip and trip' claims, or the long-running asbestosis and mesothelioma claims".[3]
This is borne out in 2026 by the survey's granular data on health and safety risk insofar as it impacts employees.
When respondents who were asked what the top three risks at work impacting employees, mental health emerged as the leading concern (40%), followed by financial wellbeing (39%), burnout (35%) and work demands (35%). Physical safety and security is reported at 23% of respondents, and work-related injury down even further (18%). The picture that emerges is one in which health and safety has evolved from a predominantly physical and operational risk into a far broader psychosocial and organizational concern. Health and safety is arguably understood not merely as a compliance obligation but as a driver of broader organizational performance and resilience.
While this data is focused on employee risks, these results may well find their way into the boardroom.
Regulatory intensification
The regulatory environment has also contributed to the elevated risk perception. In France, for example, the regulatory framework imposes stringent obligations on employers, including the requirement to maintain a Document Unique d'Évaluation des Risques (DUER), with failure to comply carrying civil, criminal and administrative penalties. The European Commission has launched a campaign on health and safety in the digital age, exploring priority areas such as the health and safety implications of remote work. These initiatives demonstrate that health and safety regulation now extends well beyond physical accident prevention to encompass broader areas such as mental health and digital working environments.
In the United Kingdom, the Health and Safety at Work Act 1974 continues to provide the backbone of the regulatory framework, supplemented by sector-specific regulations governing food safety, fire safety and other areas. Failure to comply with health and safety regulations can have significant costs — financial, reputational as well as human — making it a top risk for senior leadership. A 2024 survey found that 70% of U.K. businesses were unprepared for health and safety executive inspections due to outdated systems, suggesting that many organizations still have considerable work to do to bring their health and safety governance up to the required standard.[4]
In the United States, courts have expanded the scope of officer liability in oversight cases. The Delaware Chancery Court has broadened the potential liability of corporate officers by holding that executives — and not just board directors — may be liable for failing to oversee risks related to their areas of direct control. This expansion of the duty of care creates additional exposure for officers responsible for health and safety within their organizations.
Changing stakeholder expectations and the employee relationship
The widespread adoption of remote and hybrid working has added new dimensions to the health and safety obligation. Directors must now consider not only the physical safety of the workplace but also the psychosocial risks associated with remote working, social isolation and blurred boundaries between work and personal life. The concerns about mental health and burnout identified above creates a compelling business case for prioritizing health and safety — not only to mitigate liability exposure but to support workforce retention and operational performance.
Implications for directors, officers and their advisers
The sustained prominence of health and safety in the D&O risk landscape carries several practical implications. First, boards should ensure that health and safety governance extends beyond traditional physical risk management to encompass mental health, wellbeing and the psychosocial dimensions of modern work. Second, organizations should regularly review and update their health and safety policies and risk assessments to reflect current operations and evolving risks — outdated or generic policies can expose the business to regulatory scrutiny and may also result in insufficient insurance coverage. Third, directors should be mindful that poor health and safety practices can amplify other organizational risks, including cybersecurity vulnerabilities, regulatory breaches and legal liabilities.
The survey data also underscores the importance of adequate D&O insurance coverage. With health and safety now the single most cited risk globally, insurers and brokers should anticipate continued demand for policy wordings that clearly respond to health and safety exposures — including the more novel mental health and wellbeing-related claims that are increasingly driving the risk agenda.
Conclusion
Health and safety's rise to the top of the D&O risk rankings is not a temporary anomaly. The data from WTW's Global Directors' and Officers' Survey Report 2026, suggests that this is a structural and lasting shift driven by the enduring legacy of the pandemic, the broadening definition of workplace health and safety to include mental health and wellbeing, intensifying regulatory frameworks across multiple jurisdictions, and changing expectations among employees and wider stakeholders. For directors, officers and the professionals who advise them, the message is clear: health and safety is no longer a back-office compliance matter. It is a boardroom priority — and it is here to stay.
Footnotes
- D&O professionals series: Andy Moss and Noel Paul, Reed Smith LLP - WTW. Return to article
- D&O professionals series: Daniel Kadar and Margot Lacaud - WTW UK. Return to article
- D&O professionals series: Reed Smith LLP - WTW UK. Return to article
- Health and safety's top risks in the retail and leisure sectors - WTW UK. Return to article
Disclaimer
WTW hopes you found the general information provided here informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, WTW offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
Authors
Contact
