Cyber incidents ranked as the top business risk globally for the first time in the Allianz Risk Barometer 2020.
Thirty-nine per cent (39%) of respondents named cyber incidents as the top peril, according to Allianz, knocking the former top risk, business interruption, into second place at 37%. Awareness of cyber threats has grown rapidly in recent years as companies’ reliance on data and IT systems increases, according to the firm. Seven years ago, cyber incidents ranked 15th on the list of top business risks.
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