Business interruption, market developments and cyber-attacks are the top three global risks that will give businesses sleepless nights in 2016.
In a survey of more than 800 risk managers and insurance professionals from more than 40 countries, Allianz Global Corporate & Specialty found that new technologies, increasing digitization and the ‘Internet of Things’ are changing customer behavior, industrial operations and business models.
Globally, 34% in areas such as engineering, financial services and manufacturing cited market developments such as intensified competition as a major risk while 28% of respondents cited cyber-attacks.
Allianz told Businesses and insurers to review their insurance and risk mitigation needs to reflect the new risk management reality.
