Global Directors’ and Officers’ Survey Report 2025

Welcome to the 2025 Global Directors' and Officers' (D&O) Survey Report, in collaboration with WTW. The survey reveals the key risks impacting boardrooms today—and how directors, officers, and risk managers are responding. While some risks remain constant, new threats are emerging, and insurance decisions are not always keeping pace with evolving exposures.

Survey objective

The primary objective of this survey is to identify and analyse the top risks perceived by directors and officers worldwide, tracking shifts in risk priorities and uncovering emerging threats. By doing so, we aim to equip organisations with the knowledge to enhance their risk management strategies and insurance practices effectively.

Survey methodology 

The survey methodology involved collecting responses from directors and officers and risk managers across the globe. We have also asked respondents to provide some more information this year about what aspect of health and safety D&Os and risk managers are most focused on. Is it physical health and safety, workplace impact on mental health or another aspect? And also, whether they feel boards are skilled in managing artificial intelligence as it develops.

Key findings:

Health and safety

• For the second year running, health and safety is the number one risk for directors and officers globally.
• This year, we asked respondents to go further and explain what aspect of H&S was concerning them. 43% of respondents identified physical health and safety in the workplace as their top concern, while a further 28% identified workplace impact on mental health and wellbeing as their number 1 concern. 
• In the UK, the health and safety executive identified mental health as a concern they are targeting. In Australia, industrial manslaughter has now been introduced in all States and Territories, and a number of workplace legislative reforms came into effect in 2024.

Cybersecurity vs AI

• While cyber attack and data loss continue to rank highly, AI is not showing up as a concern.
• 61% of respondents consider that the board has the skills and knowledge to handle cybersecurity and data privacy matters; it is the second highest ranked matter on which they think the board should spend more time although only the 7th (out of 12) in terms of materiality to the business.
• By contrast, AI is the lowest ranked in terms of skills and knowledge of the board, where the board needs to spend more time and materiality to the business.
• As a risk for directors and officers, cyber attacks and data loss are ranked as 3rd and 2nd overall, although this does vary across different jurisdictions. AI is not ranked in the top seven in any region this year and is ranked below DEI, geo-political risks, pollution and climate change, by way of example.

Regulatory and litigation risks

• Civil litigation has entered the top seven for the first time since 2018.
• Regulatory risk continues to be highly ranked (it has been the number 4 risk overall in the last four surveys)

Climate and ESG risk strategy

• Climate change and pollution have decreased in priority, but Social risks are increasing.
• PFAS and biodiversity risks are increasing (from a low base).

We encourage readers to engage with the full survey report and accompanying articles for a deeper dive into our findings and to join us in advancing the conversation around effective risk management and insurance solutions.

Download the report