The indirect cost of risk is the portion of the total cost of risk (TCOR) that is not directly related to the cost of managing risks. It includes the cost of lost productivity, damage to reputation, and other indirect costs resulting from risks.
The indirect cost of risk is often more difficult to quantify than the direct cost of risk, as it can be more intangible and harder to measure. However, it can be just as significant, if not more so, in terms of the overall impact on an organization.
Some examples of indirect costs of risk include:
Overall, the indirect cost of risk can have significant consequences for organizations and should be taken into consideration when managing risks.
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