As risk managers gathered in Philadelphia for the annual RIMS conference there are warnings the new era of risk is testing the limits of traditional insurance.

The Worldwide Broker Network (WBN) used the event to publish  its “New Risk Reality Report”, which highlighted how global organisations are moving from risk mitigation to risk-led strategy, embedding resilience into business planning, investment, and growth.

It revealed C-suite leaders are reassessing how they approach risk, as geopolitical instability, economic uncertainty and technological disruption elevate risk and insurance onto the boardroom agenda.

The report is based on an extensive study commissioned by WBN, in partnership with MarshBerry, with 1,750 senior business executives across the United States, United Kingdom, Canada, France, Germany and Spain. It revealed the world is undergoing a profound shift: risk management is no longer reactive it is now a core strategic priority.

The WBN said resilience has emerged as a defining competitive advantage.

• A comprehensive and proactive risk management strategy is considered the second most important driver of corporate resilience – by almost 1 in 2 business leaders globally (45%), just behind innovation and digital transformation.
• Workforce adaptability and crisis preparedness also rank among the top resilience drivers.
• Over 43% of leaders now see commercial insurance as integral to business performance and growth, with 86% expecting it to become even more strategic in the next three years.
• Only 3% still perceive insurance as an unavoidable expense.

However, as then risks grow in scale and complexity, traditional insurance models are coming under strain.

• Cybersecurity ranks as the top business risk (48%), followed by AI disruption (40%) and talent shortages (20%)
• 47% cite rising premiums as their biggest insurance-related concern.
• 43% report cyber coverage gaps amid escalating digital threats.
• 40% highlight capacity constraints in natural catastrophe markets

“These pressures are accelerating demand for more flexible, data-driven and globally coordinated risk solutions,” the report added. “Despite current challenges, the data reveals a positive picture of risk management within organisations, with 93% of business leaders describing it to have a good reputation. The top factor that would most improve this further is stronger, more trusted, and consultative relationships.”

“Understanding the pressures facing business leaders is essential to understanding our clients. As organizations navigate today’s uncertainties and complexities, risk management has never been more mission-critical,” said Olga Collins, CEO of WBN. “This study sheds light on the increasingly strategic role of insurance as a vital investment in resilience and business performance.”

The report added today’s risk environment is increasingly interconnected – spanning cyber threats, AI, geopolitics, and supply chains.

“AI has rapidly emerged as a top-tier risk, ranked second globally by 40% of leaders, just behind cybersecurity,” the report stated. “Leaders continue to cite supply geopolitical instability, supply chain disruption and talent shortages as persistent and compounding challenges.”

“The findings point to a clear conclusion: as global uncertainty deepens, organizations are entering a new era where resilience is a competitive advantage and where risk and insurance strategy play a defining role in long-term performance,” added John Wepler, CEO of MarshBerry.