A trio of COVID-19 related risks head up the 10th Allianz Risk Barometer 2021, reflecting potential disruption and loss scenarios companies are facing in the wake of the coronavirus pandemic. Business interruption (BI) (41 percent) and pandemic outbreak (40 percent) are this year’s top business risks, with cyber incidents (40 percent) ranking a close third. The annual survey on global business risks from Allianz Global Corporate & Specialty (AGCS) incorporates the views of 2,769 experts in 92 countries and territories, including CEOs, risk managers, brokers and insurance experts.
Additional highlights include:
- Pandemic outbreak rockets to #2 from #17 and is seen as main cause of business interruption in 2021, followed by cyber. Companies look to de-risk supply chains and boost business continuity management for extreme events.
- Market developments (#4), macroeconomic developments (#8) and political violence (#10) all rising risks. Socioeconomic consequences of the pandemic will bring more insolvencies and likely fuel further civil unrest in 2021.
- Climate change falls to #9 but will be back on the board agenda as a priority in 2021.