Allianz Risk Barometer: Cyber is a Core Concern for Businesses in 2019

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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 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 (37% of responses) are neck-and-neck with business interruption (BI) (37% of responses) as the top business risks globally. Climate change (#8 with 13% of responses) and shortage of skilled workforce (#10 with 9% of responses) are the biggest climbers globally. At the same time, companies are more worried year-on-year about changes in legislation and regulation (#4 with 27% of responses) resulting in impacts such as Brexit, trade wars and tariffs.

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