The year ahead will be a perilous one for large global corporations according to a risk ranking report from Allianz, the global insurance company. Several of the risks overlap in the 2018 Allianz Risk Barometer which shows a great deal of fragility in a digitally connected business world.
The leading risk is business interruption whose causes can range from traditional causes such as fires “to new triggers stemming from digitalization and interconnectedness that typically come without physical damage, but with high financial loss.”
“Cyber incidents continues its upward trend in the Allianz Risk Barometer. Five years ago it ranked # 15. In 2018 it is # 2 globally and #1 in the U.S. Recent events such as the WannaCry and Petya ransomware attacks brought significant financial losses to a large number of businesses.” Natural catastrophes placed third after a record $135 billion in losses during 2017.