Risk Barometer 2016 Report by Allianz has just been released on news section of the company’s web site. The report contains the survey results of more than 800 risk managers and insurance experts from around the world. We can see that the companies are getting more concerned about cyber attacks and their impacts to the business continuity.
The press writing states “According to the Allianz Risk Barometer business and supply chain interruption (BI) remains the top risk for businesses globally for the fourth year in succession. However, many companies are concerned that BI losses, which usually result from property damage, will increasingly be driven by cyber-attacks, technical failure or geo-political instability as new “non-physical damage” causes of disruption. Meanwhile, two of the major risers in this year’s Allianz Risk Barometer feature in the top three corporate risks for the first time with market developments ranking second and cyber incidents third. Cyber incidents are also cited as the most important long-term risk for companies in the next 10 years. In contrast, natural catastrophes drops two positions to fourth year-on-year, reflecting the fact that in 2015 losses from natural disasters reached their lowest level since 2009.
“The corporate risk landscape is changing as many industrial sectors are undergoing a fundamental transformation,” explains AGCS CEO Chris Fischer Hirs. “New technologies, increasing digitalization and the ‘Internet of Things’ are changing customer behavior, industrial operations and business models, bringing a wealth of opportunities, but also raising awareness of the need for an enterprise-wide response to new challenges. As insurers we need to work together with our corporate clients to help them to address these new realities in a comprehensive manner.”
Axel Theis, Member of the Board of Management, Allianz SE says “Businesses need to prepare for a wider range of disruptive forces in 2016 and beyond,” and emphasize that “The increasing impacts of globalization, digitalization and technological innovation pose fundamental challenges.”
Top 3 Concerns and their percentages are graphed below from the result of the report. You can read and download the report from this link.
Allianz Risk Barometer 2016 Top 3 Concerns
[graphs height=”60″ strips=”true”][graph title=”Business Interruption” score=”38″ color=”blue” text_color=”#fff”] [graph title=”Market Developments” score=”34″ color=”red” text_color=”#fff”] [graph title=”Cyber Incidents” score=”28″ color=”#000″ text_color=”#fff”][/graphs]