More than three quarters of general counsels and board members view the risk landscape as having become significantly more complex in the last three years, with political risk cited as the number one risk facing businesses and technological risk a close second.
A survey by law firm Clyde & Co and professional network organisation Winmark of general counsels and board members found that the majority did not believe their organisations are sufficiently prepared to deal with the new threats.
Read more: Political risk is about more than elections, as UK insurers know
Less than half (43 per cent) of GCs and board members (35 per cent) think their companies are sufficiently prepared for the impact of rising political risk.
Only eight per cent of GCs thought Brexit would have a positive impact on their company versus 48 per cent who thought it would have a negative impact.
Five per cent of board members thought Brexit's impact would be positive and 30 percent thought it would be negative.