Recently WTW joined as BFFF members, their recent survey shows 80% of directors and officers consider health and safety risks to be very important or extremely important to their organisation.

The latest Directors and Officers Liability Insurance Survey by Willis found that physical workplace risks were deemed the most important by 43% of respondents, followed by employee mental health and wellbeing consequences stemming from work (28%) and from personal matters (12%).

For the first time since 2018 civil litigation and third party claims were included among the top seven concerns, with 63% of directors and officers surveyed considering these significant risks to their Directors and Officers. Smaller organisations (<$50 million in revenue) and those with revenues between $1 and $5 billion mentioned litigation more often. The largest organisations surveyed (>$5 billion in revenue) included diversity, equity and inclusion as well as bribery and corruption as top risks, while excluding the financial distress, bankruptcy and insolvency concerns of smaller organisations.

Climate change is no longer considered a top seven risk in several regions, including Asia, North America and the Middle East. In contrast, diversity, equity and inclusion, a risk that was included in the survey for the first time this year, has made its way into the top seven for Great Britain, North America and Africa. Social risks as a whole feature prominently in the list of concerns and, when looked at over a five-year period, the increase in concern is notable. For example, breach of human rights within or by business operations has risen from 23% of responders considering it a very or extremely important concern in 2021 to 62% in 2025. Similarly, concern about supplier business practices has risen from 27% in 2021 to 59% in 2025.

In general, there is a strong alignment between perceived material risks and board expertise and priorities. However, there is a notable exception when it comes to cybersecurity and data privacy, with many boards indicating more time is needed. Data loss and cyber-attacks, including extortion, are considered to be very important or extremely important for 77% of those surveyed. Artificial intelligence lags behind (only 51% of respondents consider it to be very or extremely important and considered by the fewest number of respondents to be material to the business while also being the lowest ranked issue on which respondents considered the board to have the relevant expertise), but this perception may change in the future as new use cases and regulations develop.

Angus Duncan, global D&O coverage specialist at Willis, said: “The latest survey results underscore the diverse challenges directors and officers face today, highlighting how fraught the landscape has become. Despite increasing concerns over litigation risks, cost remains the dominant driver for D&O insurance purchasing decisions. This trend persists even as regulatory scrutiny and shareholder activism increase global liability exposures. By taking a proactive approach, companies can optimise their D&O coverage while mitigating financial and reputational risk. Our data helps clients anticipate emerging risks before they become serious exposures.”