LAGOS – The recent survey by the Allianz Risk Barometer has highlighted changes in legislation and regulation, cyber and political risks as top risks in Nigeria, while business interruption remains a top business risk globally.
The survey reported that in the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union, South Africa and other countries, cyber risk is now a core concern for businesses in 2019 and beyond.
According to the Allianz Risk Barometer 2019, cyber incidents are neck-and-neck with business interruption as the top risks globally, while climate change and shortage of skilled workforce are the biggest climbers globally.
The report added that companies are more worried year-on-year about changes in legislation and regulation with 27per cent of responses resulting in impacts such as Brexit, trade wars and tariffs.
The annual survey on global business risks from Allianz Global Corporate & Specialty (AGCS) incorporates the views of a record 2,415 experts from 86 countries including CEOs, risk managers, brokers and insurance experts.
“Companies need to plan…
