Cyber attacks once again the biggest global business risk,
Climate change reaches record high
Munich/Vienna (APA-ots) – – 38% of companies worldwide mention this
Cyber attacks, in particular
Data leaks as the biggest business risk for 2025.
– Business interruptions come in second place with 31%.
– Natural disasters are in third place at 29%, while the danger
of climate change is increasing the most compared to the previous year and of
7th place moved up to 5th place.
– Geopolitical unrest, the impact of government and
Regulatory changes and fears of trade wars also apply
2025 as major dangers.
– In Austria the top 3 business risks are
Business interruptions, natural disasters and cyber attacks. The
Climate change drops to 8th place.
Cyber attacks such as data leaks or ransomware attacks as well as IT
Disruptions like the CrowdStrike incident are poised for 2025
The biggest concerns for companies worldwide, according to the latest Allianz Risk
Barometer. They are again in second and third place
Business interruptions and the risk of natural disasters.
Meanwhile, the impact of the super election year, viz
rising geopolitical tensions and the potential for
Trade wars, changes in legislation and
Regulation is in fourth place. The biggest climber this year
Allianz Risk Barometer is climate change, up from 7th place
5 is moving up, a record high in the last 14 years of the survey
reached. More than 3,700 were collected for the current edition
Risk experts from over 100 countries ranked by their top
Corporate risks surveyed.
Zwtl.: Natural disasters as a growing risk for Austria
Pursue
Identify Austrian study participants for 2025
Business interruptions as a top risk for domestic companies (
2024: 3rd place). But make the biggest leap forward
Natural disasters that were in 6th place last year and now
Reach 2nd place. However, the closely linked climate change
ends up in 8th place among the biggest risks and even loses 3 places in the
Comparison to the previous year. In contrast to this, cyber attacks reach
global mood in Austria “only” 3rd place (2024: 1st place).
“The extreme weather events in September 2024 have the risk
that comes from natural disasters, clearly into the consciousness of
companies and as a real danger for companies and their
Existence made visible. On the one hand, this applies to companies
to take appropriate precautions and on the other hand
viable insurance solution to work that is a good one
natural catastrophe coverage,” says Daniel Mati, CEO of
Alliance in Austria.
Vanessa Maxwell, Allianz Chief Underwriting Officer
Commercial, comments on the global results: “2024 was a
exceptional year for risk management. The results
Our annual Allianz Risk Barometer reflects the uncertainty
that many companies around the world are faced with. The
The interconnectedness of the top risks is particularly noticeable this year,
because climate change, new technologies, regulation and geopolitical
Risks are increasingly intertwined. This leads to
complex relationships of cause and effect. Companies have to
Put resilience at the top of your agenda and take action consistently
improving their risk management and their
Strive for resilience.”
Zwtl.: Cyber risks are increasing with the rapid pace of technology
development continues
Cyber incidents (38%) are considered this for the fourth year in a row
biggest risk in the world – and with a greater advantage than ever before
previously (7 percentage points). In 20 countries, including Argentina, France,
Germany, India, South Africa and Great Britain, they are
greatest danger. More than 60% of respondents say data breaches
represent the greatest risk to companies, followed by attacks
on critical infrastructure and physical assets at 57%.
“Many companies cite cyber as the biggest risk posed by
the rapid development of artificial intelligence (AI) even more so
is tightened. Given the increasing dependence on technology
it is likely to continue to be a major risk in the future
Companies remain. The CrowdStrike incident in the summer of 2024 has us
demonstrated how dependent we all are on secure IT systems
are,” says Rishi Baviskar, Global Head of Cyber Risk Consulting at
Allianz Commercial.
Twtl.: Business interruptions are closely linked to other risks
Business interruptions (BU) have been ranking in everyone for ten years
Allianz Risk Barometer either in 1st or 2nd place and also keep it
2025 with 31 % their position in second place. BU are usually a
As a result of events such as natural disasters, cyber attacks or –
defaults, bankruptcies or political risks such as conflicts or
Unrest all affect a company’s ability to operate normally
work. Several examples from 2024
show why companies still consider business interruptions
major threat to their business model: Houthi attacks in
Red Sea resulted in supply chain disruptions due to the
Rerouting of container ships during the collapse of the Francis
Scott Key Bridge in Baltimore also has direct global impacts
and had local supply chains. According to an analysis by Circular
Republic in collaboration with Allianz and other companies
Supply chain disruptions occur approximately every 1.4 years
global impact, and the trend is increasing. These interruptions
cause significant economic damage, up to 5% to 10
% of product cost and additional downtime.
“The pursuit of technological progress and efficiency works
impacting the resilience of supply chains.
automation and Digitalization have processes significantly
accelerated. When implemented effectively, these technologies increase the
Resilience through better data analysis, predictions
and offer more agile response options. For this reason the
Building and investing in resilience for every company
more important,” says Michael Bruch, Global Head of Risk Advisory Services
at Allianz Commercial.
Zwtl.: Climate change is increasing risk perception
2024 is expected to be the hottest year on record
Weather records. It was also a more terrible year
Natural disasters with extreme hurricanes and storms in North America,
devastating floods in Europe and Asia and drought in Africa
and South America. After climate change in the years of the pandemic
had slipped down the rankings as companies moved along
had to deal with more immediate challenges, he says
Moved up two positions into the top 5 global risks in 2025
and reached its highest position to date at number 5. For the fifth
For the first time in a row, insured losses exceeded this in 2024
$100 billion mark.
Natural disasters are the biggest risk worldwide in Austria,
Croatia, Greece, Hong Kong, Japan, Romania, Slovenia, Spain
and Turkey. In Central and Eastern Europe as well as in Spain had
Floods have a dramatic impact on people and people
Company. In Austria, the most recent insured losses were
around one billion euros annually. Due to the flood disaster
In September, the insurance industry is forecasting 2024
1.6 to two billion euros.
Zwtl.: Geopolitics and protectionism remain on the radar
Despite ongoing geopolitical and economic
Uncertainty in the Middle East, Ukraine and Southeast Asia
political risks and violence rose one place year-on-year
9th place (14%).
Fears of trade wars and protectionism are increasing.
Analyzes by Allianz and others show that the
Export restrictions on critical raw materials in the last decade
have increased fivefold over the past few years. Tariffs and protectionism
may be at the top of the new US administration’s list, but on
On the other hand, there is also the risk of a “regulatory
Wild West”, especially in connection with AI and
Cryptocurrencies. In Europe the requirements for the
Sustainability reporting will be at the top of the list in 2025
agenda.
“The impact of new tariffs will be similar to (over)
Regulation: increasing costs for all affected companies”,
explains Ludovic Subran, chief economist at Allianz. “Not everyone
Regulation is inherently bad. In most cases it is
it is the implementation that makes corporate life more difficult. Not just that
Number of rules, but also efficient administration should be in
be the focus. A thorough digitization of the authorities is
urgently needed. However, we will probably also be in 2025
still waiting in vain for a corresponding digital strategy.
Instead, there is a threat of trade wars. The prospects are not rosy,”
continued Subran.
You can find the entire ranking here.
For further information please contact:
Hugo Kidston
+44 203 451 3891
Philip Keirath
+49 160 982 343 85
You can find image(s) for this broadcast in the AOM / original image service
as well as in the OTS image archive at http://bild.ots.at
Inquiry note:
Dr. Thomas Gimesi
Press spokesman / Allianz Austria
Telephone: +43 676 878222914
Email: [email protected]
Website: https://www.allianz.at/
Digital press kit: http://www.ots.at/pressemappe/396/aom
*** OTS ORIGINAL TEXT PRESS RELEASE EXCLUSIVELY
RESPONSIBILITY OF THE SENDER FOR CONTENT – WWW.OTS.AT ***
OTS0119 2025-01-14/23:59