Allianz Risk Barometer 2019: Business interruption and cyber risk top South African corporate concerns
According to the 2019 Allianz Risk Barometer, cyber incidents now trigger the same level of corporate concern as business interruption events. The results show that climate change, workforce skill shortages and legislative/regulatory changes are also major concerns for corporations across the world.
The results, based on a survey of 2 415 experts, including Allianz customers, brokers, industry trade organizations and staff from 86 countries during October and November 2018, found that natural catastrophes was the third biggest concern.
Here are South Africa’s top 10 risks:
|1.||Business interruption (incl. supply chain disruption)|
|2.||Cyber incidents (e.g. cybercrime, IT failure/outage, data breaches, fines and penalties)|
|3.||Changes in legislation and regulation (e.g. trade wars and tariffs, economic sanctions, protectionism, Brexit, Euro-zone disintegration)|
|4.||Market developments (e.g. volatility, intensified competition/new entrants, M&A, market stagnation, market fluctuation)|
|5.||New technologies (e.g. impact of increasing interconnectivity, nanotechnology, artificial intelligence, 3D printing, autonomous vehicles, blockchain)|
|7.||Political risks and violence (e.g. war, terrorism, civil commotion)|
|8.||Climate change/increasing volatility of weather|
|9.||Natural catastrophes (e.g. storm, flood, earthquake)|
|10.||Shortage of skilled workforce|
Editor’s note: The last four are really surprising, given the current spate of events, both from a climate change, natural catastrophes, political environment and education crisis perspective.
Click here to download the Allianz Risk Barometer 2019.
Click here to download the results appendix 2019.