The Verisk Board currently comprises 11 directors, four 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 six committees: Audit; Compensation; Executive; Finance and Investment; Governance, Corporate Sustainability, and Nominating; and Risk.
As part of our annual risk survey, each business unit identifies its most significant internal and external risks in terms of likelihood and potential impact. The exercises are facilitated by Verisk’s internal risk management department with guidance from external consultants.
Following an extensive process at the executive and board levels involving review, analysis, and prioritization, the mission-critical corporate risks are identified. Once these risks are determined, the Board periodically reviews business progress reports, with business unit commitments subject to future audit.
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.
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. In addition to these policies, Verisk has an enterprise-wide internal audit function and a whistleblower hotline maintained by a leading company independent of Verisk.
Our commitment to business integrity is supported by an extensive security and compliance framework, mandatory annual training for our employees and contractors, an enterprise-wide internal audit function, and a whistleblower hotline maintained by a leading company independent of Verisk.