Allianz Risk Barometer 2022: Cyber Threats Overtake Covid-19 in Ranking for Biggest Global Business Risks

• According to the 11th Allianz study in 2022, the three biggest business risks worldwide are cyber threats, business disruption and natural disasters.

• The pandemic falls from second to fourth position as most companies feel prepared for future developments. Natural disasters and climate change rise significantly in the annual ranking with the increase of extreme weather events.

• For Bulgaria, local experts identify the pandemic, business disruption and macroeconomic development of the country as the three biggest risks.

Cyber ​​threats are the biggest concern for companies globally in 2022, according to this year's Allianz Risk Barometer. The threat of cyberattacks to ransom, data leaks or major disruptions to IT infrastructure worries companies even more than business disruptions, supply chain disruptions, natural disasters or Covid-19 - factors that have hit businesses hard in the past year.

The Allianz Global Corporate & Specialty (AGCS) annual survey includes the opinions of 2,650 experts from 89 countries and regions, including CEOs, risk managers, brokers and insurance experts. Cyber ​​incidents top the list with 44% of responses, business downturns fall to second place from last year's edition by 42 percent, and natural disasters rank third with 25 percent, compared to sixth in 2021. The pandemic spread falls to fourth position (22%), and climate change climbs to its highest ever ranking - sixth place (17%).

"For most companies, the biggest threat is that they will not be able to produce their products or provide their services. In 2021, we have seen unprecedented disturbances caused by various factors, and this year promises only a gradual alleviation of the situation. Building resilience to the many causes of...