We were asked by insurance brokers and under writers to carry out a comprehensive corporate governance risk assessment of a global hospitality company who's brand is a household name. The organisation, like much of the travel industry, had been heavily affected by the advent of COVID-19. Our consulting team worked extremely closely with the client senior leadership team to assess policies and procedures in place which related to corporate governance, enterprise risk management, revenue management, crisis management, investment planning, pandemic planning, and environmental social and governance.
The assessment enabled us and the client to effectively outline the current state of risk management controls across the organisation in relation to risk scenarios that have a direct impact on corporate governance. This was particularly important as the client had also recently gone through an initial public offering (IPO) process in the United states, and now also needed to prepare for the implementation of Sarbanes-Oxley controls. The report also looked at the senior leadership team, the organisation’s revenue and debt trajectories, and commitments to diversity and inclusion. The report was approved by the senior leadership team and was used in the subsequent placement of directors’ and officers’ (D&O) insurance cover.