As we venture into 2024, the global business landscape is becoming increasingly complex and unpredictable. To ensure sustainable growth and success, companies must be aware of, and proactively address the potential risks that could impact their operations. In this article, we will delve into the top risks identified by the Allianz Risk Barometer for 2024, covering a range of factors including; cyber incidents, business interruption, natural catastrophes, changes in legislation, macroeconomic developments, fires, climate change, political risks, market developments, and concerns about a shortage in skilled workers.
The risks identified in the report are ranked by a panel of 3,069 risk management experts from 92 different countries across 24 industry sectors. The report looks at how these risks are developing on a global scale, impacting businesses not just in the UK, but worldwide. By conducting this research, insurers like Allianz can ensure they are able to provide the best protection possible to their business customers.
Click here to access the full report.
According to the Allianz report:
“The top risks in this year’s Allianz Risk Barometer reflect the big issues facing companies right now – digitalisation, climate change and an uncertain geopolitical environment. Many of these risks are already hitting home, with extreme weather, ransomware attacks and regional conflicts testing the resilience of supply chains and business models. The fast pace of change, and the growing interconnected nature of risk, likely necessitates a shift up in gear for many companies when it comes to risk management.”