More than half of firms in Australia vulnerable to reputational risk: Report

A report by U.K.-based law firm Norton Rose Fulbright L.L.P. found that more than half of companies in Australia were identified as "extremely" sensitive to reputational risk, Lawyers Weekly reported. Four out of five respondents said that they had not financially quantified the impact of reputational damage, contrasting with 78% of respondents who had bought insurance cover for risks such as cyber breach.

More than 47% of respondents said that they did not undergo reputational risk management training while 35% said that they did not know what their company's reputational risk mitigation strategy was.

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