- 9th annual
survey on top business risks attracts record participation of 2,700+ experts
from over 100 countries - Cyber incidents have
become more damaging and expensive for companies — and often result in lawsuits
and litigation after the event - Business
interruption ranks second, but remains
a key challenge with digitalization and civil unrest creating new causes of disruption
and loss of income - Climate change rises to third top risk, while political
risks and violence makes first appearance in top 10.
SINGAPORE – Media OutReach – 14 January 2020 – For the first time ever, Cyber incidents
(35% of responses) ranks as the most important business risk in Asia-Pacific in
the ninth Allianz Risk Barometer 2020, relegating perennial top peril Business interruption (BI) (34% of
responses) to second place. The region’s results mirror a global trend
that has seen awareness of the
cyber threat growing rapidly in recent years, driven by companies increasing
reliance on data and IT systems and a number of high-profile incidents. It is a
stark change from seven years ago when it did not even feature in the top 10
risks on the mind of risk managers…
