10th Allianz survey: Business interruption, Pandemic outbreak and Cyber incidents are the top three global business risks for 2021 -- all strongly interlinked.
Globally, Pandemic outbreak rockets to #2 from #17 and is seen as main cause of business interruption in 2021, followed by Cyber incidents. Companies look to de-risk supply chains and boost business continuity management for extreme events.
In Asia Pacific, the top three risks are mirrored although Business interruption swaps places with Cyber incidents, which ranks #1 for the second consecutive year.
Market developments (#4), Macroeconomic developments (#8) and Political violence (#10) are all rising global risks. Socioeconomic consequences of the pandemic will bring more insolvencies and likely fuel further civil unrest in 2021. Climate change falls to #9 globally but will be back on the board agenda as a priority in 2021.
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