Top 3 global risks:
1. Business interruption (incl. supply chain disruption): top risk for the sixth consecutive year with 42% of responses rating it in the top three risks. As businesses move from being rich in physical assets to intangibles and services, BI is being triggered by non-traditional risk exposures which don’t cause physical damage but result in lost income.
2. Cyber incidents: 54% of respondents think cyber incidents are currently the most underestimated risk
3. Natural catastrophes: Approximately $335bn in overall losses from natural catastrophes in 2017. Around $135bn in insured losses.
In the US, cyber incidents was ranked as the largest risk.
This is the seventh edition of the Allianz Risk Barometer. The survey included 1,911 respondents from 80 countries. The annual corporate risk survey was conducted among Allianz customers (global businesses) and brokers. It also surveyed risk consultants, underwriters, senior managers and claims experts in the corporate insurance segment of both Allianz Global Corporate & Specialty and other Allianz entities.