Cyber threats were the biggest concern for businesses worldwide in 2022, leading the forward-looking Allianz risk barometer with 44 percent, German industry insurer Allianz Global Corporate &Specialty (AGCS) said on Tuesday.
Business interruptions dropped to a close second place with 42 percent, according to an annual survey of more than 2,650 risk management experts from 89 countries and territories, including CEOs, risk managers, brokers and insurance professionals.
Potential business interruptions were mostly feared to be caused by cyber incidents, "reflecting the rise in ransomware attacks but also the impact of companies' growing reliance on digitalization and the shift to remote working," according to AGCS, a subsidiary of German insurance giant Allianz.
Natural disasters ranked third and the concern of a pandemic outbreak dropped from second to fourth place as a "majority of companies are less concerned and feel adequately prepared for future outbreaks," AGCS said.
"2021 saw unprecedented levels of disruption, caused by various triggers," said AGCS CEO Joachim Mueller.
"Crippling cyber-attacks, the supply chain impact from many climate change-related weather events, as well as pandemic-related manufacturing problems and transport bottlenecks wreaked havoc," Mueller said.