Allianz Risk Barometer 2019: cyber-risks are the first threat to companies

barrage BresilCyber-risks rank henceforth first in the 2019 Risk Barometer interlinked with business interruption.

Published by Allianz Global Corporate & Specialty (AGCS), a subsidiary of Allianz Group, the 8th edition of the Barometer collected data from 2 400 experts spread over 86 countries. Cyber disasters are at the top of companies' concerns, interlinking with the risk of business interruption. These two threats had the same number of votes, that is 37%.

The latest scandals related to confidentiality, computer failures and the resurgence of cyber-attacks are increasingly causing concern to companies worldwide. According to Allianz, the economic impact of cyber risks has steadily increased in recent years.

In 2018, cybercrime would have cost 600 billion USD against 445 billion USD in 2014. A toll three times higher than the 10-year average of the economic losses related to natural disasters, which is 200 billion USD.

Over the last five years, the average loss insured per claim for cyber-attacks amounted to EUR 2.3 million (2.6 million USD). By comparison, the average cost of an industrial fire accident does not exceed EUR 1.5 million (1.7 million USD).

According to the 2019 Risk Barometer, natural disasters rank third (28% of responses), followed by legislative and regulatory changes (27%) and market developments (23%).

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