The annual survey on global business risks from Allianz Global Corporate & Specialty, based on the views of 2,769 experts in 92 countries and territories, highlights three COVID-19 related risks heading up the 10th Allianz Risk Barometer 2021. All reflect potential disruption and loss scenarios companies are facing in the wake of the coronavirus pandemic. Business interruption (BI) (#1 with 41% responses) and Pandemic outbreak (#2 with 40%) are this year’s top business risks, with cyber incidents (#3 with 40%) ranking a close third. Prior to the COVID-19 outbreak, business interruption already had topped the list seven times, and it returns to the top spot after being replaced by cyber incidents in 2020. The pandemic shows that extreme global-scale BI events are not just theoretical, but a real possibility, causing loss of revenue and disruption to production, operations and supply chains. 59% of respondents highlight the pandemic as the main cause of BI in 2021, followed by cyber incidents (46%) and natural catastrophes and fire and explosion (30% each). Check out the entire report at Allianz.
Published March 1, 2021.
