Allianz Risk Barometer 2022: Cyber perils outrank Covid-19 and broken supply chains as top global business risk

• The top three business risks in 2022, according to the 11th Allianz survey, are cyber, business interruption, and natural disasters.
• The threat of a pandemic has dropped from second to fourth place, as the majority of businesses are less concerned and believe they are properly prepared for future breakouts.
• As extreme weather occurrences and transition risks increase, natural disasters and climate change rise dramatically in the annual rankings.
• "'Business interruption' will certainly be the dominant underlying risk trend for this year," says AGCS CEO Joachim Mueller.
• Companies are increasingly focusing on resilience as a competitive advantage."
  

According to the Allianz Risk Barometer, cyber threats will be the top issue for businesses worldwide in 2022. Companies are more concerned about ransomware attacks, data breaches, and catastrophic IT failures than they are about business and supply chain disruptions, natural catastrophes, or the Covid-19 pandemic, which have all had a significant impact in the past year.

Cyber incidents tops the Allianz Risk Barometer for only the second time in the survey’s history (44% of responses), Business interruption drops to a close second (42%) and Natural catastrophes ranks third (25%), up from sixth in 2021. Climate change climbs to its highest-ever ranking of sixth (17%, up from ninth), while Pandemic outbreak drops to fourth (22%). The annual survey from Allianz Global Corporate & Specialty (AGCS) incorporates the views of 2,650 experts in 89 countries and territories, including CEOs, risk managers, brokers and insurance experts. View the full global and country risk rankings.