Recently, Allianz Global Corporate Specialty (AGCS) released the 7th annual Allianz Risk Barometer analyzing corporate risks globally. It also analyzes risks by region, country, industry, and size of business. According to the report companies operating in Nigeria are increasingly worried about theft, fraud, corruption, market developments as well as changes in legislation & regulation. Other growing concerns in the country are fire, explosion and power blackouts. The report is based on a survey conducted 1,911 risk experts from 80 countries.
“For the first time, business interruption and cyber risk are neck-and-neck in the Allianz Risk Barometer and these risks are increasingly interlinked. Whether resulting from attacks such as WannaCry, or more frequently, system failures, cyber incidents are now a major cause of business interruption for today’s networked companies whose primary assets are often data, service platforms or their groups of customers and suppliers. However, last year’s severe natural disasters remind us that the impact of perennial perils shouldn’t be underestimated either. Risk managers face a highly complex and volatile environment of both…
