Allianz's Risk Barometer names top threats for businesses
Allianz's Risk Barometer for 2018 points to business interruption and cyber incidents as the largest risks for companies this year, according to a press release.
Business interruption is the biggest risk to consider for the sixth consecutive year. It is ranked at the top in 13 countries and may impact businesses of any size. These interruption risks can include fire, natural disasters and supply chain disruption, as well as risks coming from the technological side of business, which would result in financial losses, such as IT system errors, terrorism, political violence events, product quality incident and more.
Cyber incidents are continuing to rise according to Alianz's Risk Barometer and are now the second-highest risk. Cyber incidents include threats of data breaches, network liability, hacker attacks and more. Cyber incidents stand to destroy small businesses that may not be able to recover if they are attacked with certain sized threats, and larger companies will still be injured in the wake of such threats.
Finally, natural catastrophes are now being counted as some of the highest risks to businesses globally.
New technologies are also on the rise when it comes to threatening businesses and are ranked at No. 7.