Cyber risks, such as IT outages, ransomware attacks or data breaches, rank as the most important risk globally (34% of responses) for the second year in succession – the first time this has occurred. In 2023, Cyber Risk is also regarded as the the most important risk in Belgium.

The annual Allianz Risk Barometer reports on globally identified risks, such as natural disaster, crime, terrorism, … and cyber.

The most important business risks for the next 12 months and beyond, based on the insight of 2,712 risk management experts from 94 countries and territories.

Given cyber crime incidents are now estimated to cost the world economy in excess of $1trn a year [1] – around 1% of global GDP – it perhaps should come as no surprise that cyber risk is the top customer concern in this year’s Allianz Risk Barometer, selected by more than a third of all respondents. In addition to being voted the top risk globally, cyber incidents also ranks as the top peril in 19 different countries. It is the risk small companies are most concerned about, is the cause of business interruption companies fear most, while cyber security resilience ranks as the most concerning environmental, social, and governance (ESG) risk trend.

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