Cyber incidents have been ranked as the top business risk in the Allianz Global Risk Barometer 2020, knocking business interruption from a top spot it had held for seven consecutive years.
According to the Allianz study, which focuses on large and small- to mid-sized enterprises in 22 industry sectors and 102 countries, cyber incidents (including cybercrime, IT failure/outage, data breaches, fines and penalties) were the top concern, followed by business interruption, changes in legislation and regulation, natural catastrophes, and market developments.
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