- A new survey by Allianz Global Corporate & Specialty asked 2,650 risk management experts the biggest business risks for 2022.
- These experts came from 89 countries and ranked cyber incidents as the biggest risk to business.
- Natural catastrophes and pandemic outbreaks were also ranked near the top.
More than 40 percent of experts surveyed by Allianz Global Corporate & Specialty think that cyber crime and business interruption will be the biggest business risks in 2022. As our chart shows, natural catastrophes and the effects of climate change have also gained importance as factors influencing global business dealings.
What is the World Economic Forum doing on cybersecurity?
The World Economic Forum’s Centre for Cybersecurity is leading the global response to address systemic cybersecurity challenges and improve digital trust. The centre is an independent and impartial platform committed to fostering international dialogues and collaboration on cybersecurity in the public and private sectors.
Since its launch, the centre has driven impact throughout the cybersecurity ecosystem:
- Training a new generation of cybersecurity experts
Salesforce, Fortinet and the Global Cyber Alliance, in partnership with the Forum, are delivering free and globally accessible training through the Cybersecurity Learning Hub.
- Building a global response to cybersecurity risks
The Forum, in collaboration with the University of Oxford – Oxford Martin School, Palo Alto Networks, Mastercard, KPMG, Europol, European Network and Information Security Agency, and the US National Institute of Standards and Technology, is identifying future global risks from next-generation technology.
- Improving cybersecurity in the aviation industry
Through the Cyber Resilience in the Aviation Industry initiative, the centre has been improving cyber resilience in aviation in collaboration with Deloitte and more than 50 other companies and international organizations.
- Making the global electricity ecosystem more cyber resilient
The centre and the Platform for Shaping the Future of Energy, Materials and Infrastructure have been bringing together leaders from more than 50 businesses, governments, civil society and academia to develop a clear and coherent cybersecurity vision for the electricity industry.
- The Council on the Connected World agreed on IoT security requirements for consumer-facing devices to protect them from cybers threats, calling on the world’s biggest manufacturers and vendors to take action for better IoT security.
- The Forum is also a signatory of the Paris Call for Trust and Security in Cyberspace, which aims to ensure global digital peace and security.
Contact us for more information on how to get involved.
While extreme weather events were once thought to happen only in a select few places especially vulnerable to hazards like tornados, hurricanes or earthquakes, the rising threat of what a majority of scientists see as irreversible climate change outcomes has turned the whole world into a potentially hazardous zone. According to insurance company Aon, natural disasters cost the world $238 billion in 2021, of which only $108 billion were insured. This is just one of the reasons why natural catastrophes jumped up to third place with 25 percent of respondents deeming it relevant this upcoming year, an annual increase of eight percent. Apart from malware attacks plaguing governments and businesses around the world, the global chip shortage and resource scarcity accelerated by the coronavirus pandemic is not only considered the second-biggest risk for this year, but will also most likely be a talking point in 2023 and beyond. This could further be exacerbated by a new pandemic outbreak due to new variants or other viruses – a risk that isn't seen as relevant as in 2021, but still relevant enough to be cause for concern.
Have you read?
The Allianz Risk Barometer is an annual survey conducted amongst experts in Europe, the Americas, Asia, Africa and the Middle East. It mirrors the views of not only risk advisors and claim specialists of Allianz Global Corporate & Specialty and other branches, but also decision-makers in global companies, brokers and industry trade groups.