The top risks and major risers in this year’s annual business risk survey reflect the big issues facing companies around the world right now – digitalization, climate change and an uncertain geopolitical environment. Many of these risks are already hitting home, with extreme weather, ransomware attacks and regional conflicts expected to test the resilience of supply chains and business models further.
Cyber, business interruption and natural catastrophes: the top risks for businesses in 2024
Cyber incidents, such as ransomware attacks, data breaches and IT disruptions, and the closely interlinked peril of business interruption in a fast changing world rank as the business risks of most concern for companies around the globe, according to the Allianz Risk Barometer.
The more traditional threats posed by natural catastrophes and fire and explosion climb back up the rankings too. Given ongoing conflicts around the world and the potential for polarization, disinformation and unrest in a record-breaking year for elections, political risks and violence is also on the rise. At the same time, those issues that have become more prominent in recent years, such as the energy crisis, pandemic outbreak, and economic risks, fall down the list of business concerns as some Covid-19-related issues have abated, although challenges still loom.