|
|
BI’s position is unchanged from last year, while pandemics are a new entry in the top ten risks identified by the Allianz Risk Barometer 2021. The barometer surveyed more than 2,700 experts in 92 countries and territories, including risk managers, CEOs, brokers and insurance experts.
Globally, cyber incidents slipped from the top-ranked risk to third position, but it remains the top business risk in Europe. Respondents from France, Belgium, Denmark, Italy, Spain and Sweden all named cyber incidents as the top threat to their business this year.
The barometer finds that data breaches are rated the top cyber exposure for European firms, followed by IT vulnerability due to remote working in the pandemic.
Survey respondents in most European countries, particularly those in western Europe, ranked the top three risks identified by global participants – BI, pandemic outbreak and cyber incidents – in their top three.
BI was named as the top risk facing European firms in Germany, Austria, Denmark, the Netherlands and Switzerland, while pandemic outbreak, which ranked second in the global poll, was the number one risk for businesses in the UK, Portugal, Poland, Greece and Croatia.
The same three core risks featured strongly in global industry sector rankings. Pandemic outbreak took the number one slot for aviation, marine, entertainment and hospitality. BI topped the poll for engineering and remained the number one risk for manufacturing, chemicals and pharmaceuticals, food and oil and gas. Cyber remained the number one risk for financial services and government/public services, and took the top slot for power and utilities businesses.
Cyber incidents (1)
Business interruption (2)
Pandemic outbreak (new to top ten)
Changes in legislation and regulation (3)
Market developments (4)
Natural catastrophes (6)
Fire, explosion (5)
Climate change/increasing volatility of weather (9)
Macroeconomic developments (10)
New technologies (8)