City still not taking anti-disaster measures
City companies are not doing enough to safeguard themselves against a major disaster like the one that struck New York on 11 September.
Link: Liquidation grows on back of 11 September
According to the Institute of Financial Services more than a third of senior executives in financial services believe that many organisations are ‘overly exposed to risks’.
Commissioned by IBM, the IFS’s research showed only 51% of organisations represented by the 115 executive interviewed could definitely measure their operational risk.
Eric Dobby, director at the IFS, said: ‘There is a clear call to action to ensure the City has robust contingency plans in place. Our research shows that despite 95% of th senior executives interviewed believing that the financial services industry is taing operational risk deriously since the attacks, only about half were planning to increase their expenditure in this area.’