Aviva Canada reveals which province’s businesses have a “unique” take on risks

Extensive new report identifies top national business risks

Aviva Canada reveals which province’s businesses have a “unique” take on risks

Commercial Solutions

By Lyle Adriano

Aviva Canada has released a new report which found that businesses in Québec rate their risks differently compared to their counterparts in other provinces.

The insurer’s new Risk Insights Report, which surveyed 1,500 businesses across Canada, showed that the top risk concern among Québec businesses was business interruption related to environmental risks and natural catastrophes. This is notable, as climate or environmental concerns did not even make the top five list of concerns among all Canadian businesses.

The top national business risks, as found by Aviva Canada, are:

  1. Public health events
  2. Cyber security and cyber incidents
  3. The health and mental wellbeing of employees
  4. Shortage of skilled workforce
  5. Business interruption, including disruptions in supply chain

Business interruption made the national risk list, but it is not specific to catastrophes compared to the list made by Québec businesses, Aviva Canada noted. The national list also ranked business interruption as the 5th highest risk, compared to Québec putting (catastrophe-related) business interruption at 1st place.

"Climate and environmental concerns identified by Quebec business leaders should be a top risk concern in my view. While the insights contained in this report suggest there is enormous resilience among Québec businesses and their leaders, we live in an unpredictable and increasingly risky world,” commented Aviva Canada CEO Jason Storah.

Storah added that Aviva believes gathering data is the first important step in understanding risk and helping Québec businesses to become more resilient.

“We need to be able to see beyond the next curve in the road and identify future risks before they're already upon us - because we know they're coming,” the chief executive prefaced.

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