Cyber Leads Global Business Risks for First Time: Allianz Risk Barometer 2020
For the first time ever, Cyber incidents ranks as the most important business risk globally in the ninth Allianz Risk Barometer 2020, relegating perennial top peril Business interruption (BI) to second place. Seven years ago, cyber ranked 15th with just 6% of responses.
Changes in legislation and regulation (#3 with 27%) and Climate change (#7 with 17%) are the biggest climbers globally underlining the U.S.-China trade war, Brexit and global warming as increasing concerns for companies and nations. The annual survey on global business risks incorporates the views of a record 2,718 experts in over 100 countries, including CEOs, risk managers, brokers and insurance experts.