We’re committed to achieving a governance framework, which evolves according to stakeholder expectations and promotes:
- a diversity of informed opinion
- objective assessments of risk and opportunity
- protection of physical, financial, and intellectual assets
- the fair treatment of employees
- appropriate standards of conduct
- clear responsibility and accountability for outcomes
Board of Directors
The Verisk Board currently comprises 13 directors, three of whom are women. With the exception of the Board chair (Verisk’s President and CEO, Scott G. Stephenson), all Verisk directors meet the Nasdaq definition of independence. The Board includes an independent lead director and five committees: Audit, Compensation, Executive, Finance and Investment, and Nominating and Corporate Governance.
As part of our annual “Value at Risk” exercise, each business unit identifies its most significant internal and external risks in terms of likelihood, measures the potential impact (in U.S. dollars), and describes its management and mitigation strategies for addressing such risks. The exercises are facilitated by an independent risk management firm in conjunction with Verisk’s internal risk management department.
Following an extensive process at the executive and board levels involving review, analysis, and prioritization, the major corporate risks are identified. Once these risks are determined, the Board periodically reviews business progress reports and summarizes management action and outcomes, with business unit commitments subject to future audit.
Verisk sets a high and uniform standard of fair and ethical behavior for its management, employees, and suppliers. These standards are supported by our Code of Business Conduct and Ethics, Anti-Bribery and Corruption Policy, Employee Covenants, whistleblower hotline, and Statement on Modern Slavery.
Managing and Protecting Data
Verisk’s policy statement “Data Is Our Business” acknowledges our stewardship responsibilities, discusses our protective framework, and describes several third-party certifications we’ve earned. We reinforce our commitment to data integrity through complementary supportive activities and events, such as Verisk’s annual Security and Compliance Summit and our Security Awareness and Incident Reporting training.