Aon’s 2021 Global Risk Management Survey (GRMS) allows quantitative data to be combined with qualitative expert insights to discuss risks facing professional service firms.

Since the 2019 GRMS report, the key risks identified have remained relatively consistent. The risk landscape for professional service firms has been impacted by the ongoing impacts of COVID-19, and indeed these are probably partially reflected in the responses within cyber and business interruption risk. The risks around attracting and retaining talent also may have changed and become more challenging during COVID-19.

In the coming years we anticipate increasing prominence for environmental, social and governance (ESG) risks, although again, reputation, talent, and regulatory risk, which make the current list, include ESG components.