Earlier this year at Willis Towers Watson’s aviation conference in Singapore I took the opportunity to speak to Mark Hue Williams, Head of Transportation for Willis Towers Watson, about a new piece of research into the risk priorities for aviation industry leaders.
“Perhaps the most important is the convergence of primary risks,” he said. “In the old days peoples’ perception of risk might have been very linear. We are now seeing a world where risk is interconnected. It is complicated and it requires a very complex and integrated response.”
Another common theme, he said, is the issue of digital vulnerabilities. “We think it is critically important that boardrooms—and that means from the CEO down—have a robust understanding of cyber vulnerabilities, because if you don’t and you have a cyber-breach, the impact for yourself personally can be severe, the reputation damage can be very severe, and the impact on your share price can be impaired very quickly. This is a good example of the connectivity of risk.”