Claims in Focus

Our annual report identifies the top causes of corporate insurance losses

Businesses have to navigate an increasingly complex risk landscape. As well as combatting the threat posed by a host of natural and man-made hazards, companies also have to deal with the demands of a less forgiving regulatory and legal environment and emerging risks posed by our growing reliance on technology. All of these factors can combine to impair successful running of operations and insurers have a vital role to play in ensuring any disruption following a loss event is minimized.

The Global Claims Review is our annual report examining global developments in corporate insurance claims, highlighting the top causes of loss, and other trends. It also examines a number of industry-specific trends that will impact the claims landscape in future.

The report highlights the increasingly high values at risk in corporate insurance claims. Allianz Global Corporate & Specialty (AGCS) has identified the top causes of loss and emerging trends from more than 470,000 insurance industry claims in over 200 countries and territories with which it has been involved between 2013 and 2018. These claims have an approximate value of €58.1bn (US$66.5bn).
The analysis shows that over 75% of financial losses arise from 10 causes of loss, with the largest single identified cause being fire / explosion, which accounts for almost a quarter (24%) of the value of all claims. In the past five years, fire and explosion incidents have caused in excess of €14bn worth of insurance losses from over 9,500 claims and are responsible for more than half (11) of the 20 largest non-natural catastrophe loss events analyzed. Even the average claim from such an incident totals almost €1.5mn at €1.47mn. Aviation collision / crash incidents (14%) rank as the second top cause of losses globally according to value of claims. Faulty workmanship / maintenance (8%) is third.
Download the report

Annual survey identifying 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.

Top 3 global risks in 2019 

  1. Business interruption (37%) - 2018 rank: 1 (42%)
  2. Cyber incidents (37%) - 2018 rank: 2 (40%)
  3. Natural catastrophes (28%) - 2018 rank: 3 (30%)
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Allianz operates as an international insurer on almost every continent. Find Allianz in your own country/region.
With the Allianz network AGCS provides services in over 200 countries and territories.