Risk Management Council 2017 Budget Benchmarking Survey
Sep 21, 2017
This report summarizes findings from the Risk Management Council’s 2017 Budget Benchmarking Survey.
Key findings include:
- The importance of property/casualty programs is indisputable. Risk managers allocated the lion’s share of their budgets towards building and providing the right size coverage. What's more, over 7 out of 10 reported they spend more than 80% of their budget on their respective property/casualty program.
- Consistency in budget and spend. The majority of risk managers reported modest increases in budget and expenditures in FY 2016.
- Risk management is staying mostly flat. Overall MAPI Risk Management Council members reported little to no change in either the size of their departments, and budgets or expenditures in FY 2016. This corresponds with member feedback about the “[c]onstant pressure to reduce headcount.”