2017 Litigation Forecast
The business landscape is increasingly challenging. We see this trend continuing in 2017. Increased regulatory scrutiny; escalating frequency, scale and sophistication of cyber attacks; continuing growth of class actions fuelled by more accessible sources of funding. All of these add to the existing grab bag of threats a business faces which can test its resilience, decision making and capability for crisis management.
Preparation and proactivity will be key to successfully negotiating these hazards. Regulators at the door; an electronic assault on data integrity; a major health and safety event; or any of a range of significant causes of civil litigation – any business at any time can be suddenly and unexpectedly confronted with a situation having profoundly damaging consequences, financially and reputationally, if not handled well.
Are there suitable practices and procedures in place to minimise the risk of a crisis arising? Are there established protocols to manage the crisis if it does arise, and are these well understood within the business? Is there a communications strategy in place – what are the key messages likely to be? Has a team been identified with the requisite skills for managing an event should it occur and does each member understand his or her role? Taking the time in advance to implement these measures will enhance the timeliness and quality of response to any storm that may break, and better position a business to ride it out.
Any of our team is very happy to explore these issues in greater depth. We assist both with the recommendation and implementation of strategies to minimise the risk challenges such as these pose, and with management of the challenge should it occur.