Governance
Our research reveals that companies are facing a “high” or “extreme” risk of association with modern slavery in 115 countries.
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, five of whom are women. All Verisk directors meet the Nasdaq definition of independence, except for Lee Shavel, Verisk’s CEO. The Board includes an independent Chair of the Board and five committees: Audit; Compensation; Executive; Finance and Investment; and Governance, Corporate Sustainability, and Nominating.
Risk Management
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’s Approach to Cybersecurity
Verisk remains steadfast in our commitment to safeguarding the confidentiality, integrity, availability, and responsible use of data. Our rigorous Approach to Cybersecurity is a comprehensive framework comprising cyber risk governance, risk identification and management, risk prevention and protection, monitoring and detection, and response and recovery planning. The approach also maintains globally recognized security certifications and contains policies and procedures for all facets of the company and its workforce, including leadership, employees, and third parties conducting business with Verisk.
Business Integrity
Verisk sets a high and uniform standard of fair and ethical behavior for its management, employees, and suppliers. These standards are detailed in our Code of Business Conduct and Ethics, Anti-Bribery and Corruption Policy, Supplier Code of Conduct and credentialing process, Employee Covenants, and Statement on Modern Slavery.
Our commitment to business integrity is further supported by an extensive security and compliance framework that incorporates training for our employees.