Business risks are currently primarily digital, according to the Allianz Risk Barometer 2022. At the same time, the insurer warns that rising demand for strategic commodities could make supply chains even more vulnerable.
Insurer Allianz has published the eleventh edition of its Risk Barometer. The report is based on data from 2,650 experts from 89 countries and 22 industries. According to the Barometer, the companies surveyed see digital threats in particular as a risk to their business. They are particularly concerned about ransomware attacks, in which extortionists encrypt sensitive data and only release it after payment of a ransom.
The risk of business interruptions ranks second. It is not logistics problems that fuel fears of no longer being able to manufacture products or provide services, but digital attacks as well.
Despite these findings, Allianz warns against underestimating traditional threats such as natural disasters. In addition, new factors could further increase the volatility of supply chains. These include rising demand for critical materials such as rare earths, which are needed to generate renewable energy through wind turbines, for example. The full report can be found here.