Allianz Risk Barometer

Our annual survey identifies the top global business risks

Technology is breeding new threats as well as business models. Traditional risks such as natural catastrophes continue to challenge while other threats such as cyber, neck-and-neck with business interruption at the top of the Allianz Risk Barometer 2019 for the first time, reputational risk, increasing exposure to intangible assets and volatility and consolidation in the corporate environment evolve daily.

The Allianz Risk Barometer is our annual report identifying the top corporate risks for the next 12 months and beyond, based on the insight of more than 2400 risk management experts from over 80 countries.

Also a consequence of many of the other top risks in the Allianz Risk Barometer, business interruption (BI) is the top threat for companies for the seventh year running (37% of responses). According to Allianz Global Corporate & Specialty (AGCS) the average BI property insurance claim now totals over €3mn ($3.4mn) at €3.1mn. This is more than a third (39%) higher than the corresponding average direct property damage loss (€2.2mn) with these totals significantly higher than five years ago. Losses from the largest events can be in the hundreds of millions or higher.
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The eighth Allianz Risk Barometer is the biggest yet incorporating the views of a record 2,415 respondents from 86 countries.

The annual corporate risk survey was conducted among Allianz customers (global businesses), brokers and industry trade organizations. It also surveyed risk consultants, underwriters, senior managers and claims experts in the corporate insurance segment of both AGCS and other Allianz entities.

Respondents were questioned during October and November 2018. The survey focused on large and small- to mid-sized enterprises. Respondents were asked to select industries about which they were particularly knowledgeable and name up to three risks they believed to be of the most importance.

Applicable respondents could provide answers for up to two industries meaning there was a total of 2,882 survey responses from 2,415 respondents. Most answers were for large enterprises (>€500mn annual revenue) [1,445 responses 50%]. Mid-sized enterprises (€250mn to €500mn revenue) contributed 619 responses (21%), while small enterprises (<€250mn revenue) produced 818 responses (28%). Risk experts from 22 industry sectors were featured.

Ranking changes in the Allianz Risk Barometer are determined by positions year-on-year not percentages. All currencies US$ unless stated.

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2018 rank


Business interruption

(incl. supply chain disruption)

37% 1 (42%)


Cyber incidents

(e.g. cyber crime, IT failure/outage, data breaches, fines and penalties)

37% 2 (40%)


 Natural catastrophes

(e.g. storm, flood, earthquake)

28% 3 (30%)

Changes in legislation and regulation

(e.g. trade wars and tariffs, economic sanctions, protectionism, Brexit, Euro-zone disintegration) 

27% 5 (21%)


Market developments

(e.g. volatility, intensified competition/new entrants, M&A, market stagnation, market fluctuation)

23% 4 (22%)

6 Fire, explosion
19% 6 (20%)


New technologies

(e.g. impact of increasing interconnectivity, nanotechnology, artificial intelligence, 3D printing, autonomous vehicles, blockchain)

19% 7 (15%)
8 Climate change / increasing volatility of weather 13% 8 (13%)

9 Loss of reputation or brand value 13% 8 (13%)

10 Shortage of skilled workforce 9% NEW
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