CYBER IS TOP BUSINESS RISK IN 2022: ALLIANZ

Increasing ransomware-related claims have prompted businesses to rank cyber as the greatest risk they face, according to a new survey. The threat of ransomware attacks, data breaches or major IT outages worries companies even more than business and supply chain disruption, natural disasters or the Covid-19 pandemic, all of which have heavily affected firms in the past year, the latest Allianz Risk Barometer found. Cyber incidents tops the Allianz Risk Barometer for only the second time in the survey’s history (with 44% of responses), business interruption drops to a close second (42%) and natural catastrophes ranks third (25%), up from sixth in 2021. Climate change climbs to its highest-ever ranking of sixth (17%, up from ninth), while pandemic outbreak drops to fourth (22%).