Geopolitical and AI Risks Rise as Top Concerns for Directors and Officers

• •59% of directors consider geopolitical risks very important, up from 15th place last year.
• •56% of respondents rank AI risks as very important, with 71% in North America.
• •Only 55% believe board members have the skills for effective AI oversight.

According to Willis' latest survey, 59% of directors and officers view geopolitical risks as very important, a significant rise from previous years. AI-related risks have also increased, with 56% of respondents ranking it as a major concern, particularly in North America where 71% highlighted its importance. Key AI concerns include AI-generated errors (50%), AI-enabled fraud (40%), and strategic failures in AI adoption (38%). Only 55% believe their boards have the necessary skills for effective AI oversight. The survey indicates that traditional risks remain important, but new risks like cyber threats and geopolitical issues are gaining prominence. Overall, organizations feel their D&O insurance coverage is adequate, though confidence varies regarding financial limits.