Catastrophic Risk Infographic

September 19, 2023

A World of Rising Risk Leaves Organizations Exposed

  • Organizations lose an average of $45M annually due to extreme weather and other catastrophic hazards.
  • Energy, Aerospace & Defense and Government organizations lose even more – between $46M to $49M.
  • The average company only assesses half (56%) of its critical suppliers for risk. Only 7% of companies continuously monitor the critical suppliers they do assess.
  • Monitoring Saves Costs and Time Organizations report more disruptions from sub-tier suppliers (Tiers 2 and 3), than from direct suppliers (Tier 1).
  • Companies say reacting to incidents faster could save them $37M each year.
  • 96% of organizations would not be aware within 48 hours of a catastrophic event impacting their sub-tier suppliers.

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Build operational resiliency into your extended supply chain:

  • 889 compliance – ensure market access
  • Data sharing with 3rd parties and beyond – protect reputation
  • Concentration risk – ensure business continuity
  • Cyber breaches – assess potential exposure
  • Unethical labor – avoid reputational harm
  • On-boarding and monitoring suppliers – save time and money