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**0:01** Earlier this year, Beazley was at the BIBA Conference 2026 to ask the industry's biggest questions to insurers, brokers, MGAs, associations, and more. **0:20** We interviewed more than 3,500 business leaders as part of this report, and a really interesting trend emerged in the UK. **0:26** We asked business leaders to rank different risks, and what we saw was a significant jump in cyber risk—from 27% to 39%. That was the biggest movement we had seen in the UK, with cyber risk becoming the top concern for many business leaders. **0:43** We also saw a high level of perceived resilience and preparedness. In fact, 81% of those leaders said that while they viewed cyber risk as their biggest threat, they were relatively confident in their ability to manage an incident. **0:58** We found that surprising. Our view is that businesses should be cautious about overconfidence. **1:04** UK business leaders have made significant improvements to their cyber resilience as threats have evolved in recent years. However, cyber resilience is not a one-off exercise—it requires continuous attention. **1:20** As threats evolve, so do the tools used by both defenders and attackers. Artificial intelligence can be a powerful defensive tool, but it also gives cybercriminals new capabilities. Attackers only need to succeed once, whereas defenders must succeed every time. **1:45** We are living in an era of accelerating risk, where threats that were once emerging are now established and increasing in frequency and severity. **1:53** Unfortunately, the use of deadly weapons to cause harm to staff, employees, and customers is now a well-established risk in the UK. This is no longer an emerging threat. **2:01** Martyn's Law has been introduced, and guidance is currently being developed to help businesses understand what they need to do to protect people and premises against terrorist attacks. **2:16** Terrorism is one concern, but there are many reasons why people may be exposed to violence. Our focus is on how we can support businesses—and how brokers can support their clients—in preparing for such events. **2:29** Through the development of our Deadly Weapon Protection product, for example, we provide a range of services that help businesses not only comply with Martyn's Law but also assess their preparedness, mitigate risk, and minimise the impact should an incident occur. **2:57** At Beazley, specialty risk is at the heart of our business. That means finding solutions to new and emerging challenges facing UK businesses and their brokers. **3:03** Preparedness remains central to our approach. In cyber risk, for example, we focus on helping clients identify vulnerabilities within their networks, their employee behaviours, and their overall risk management practices. **3:26** The same applies to preparedness for a deadly weapon event. We continue to evolve beyond simply indemnifying policyholders and helping them recover after an incident. **3:42** The real goal is prevention. Wouldn't it be amazing if we could stop incidents from happening in the first place? **3:52** Brokers are exceptionally well positioned to advise their clients on emerging risks. Part of that responsibility is investing time to understand the evolving risk landscape and how best to support clients. **4:01** Cyber risk is much better understood today than it was a few years ago, and cyber insurance is more widely purchased. However, there remains a significant uninsured opportunity. **4:17** Together, we need to continue educating clients—not to become overconfident, but to understand the threats they face and how to prepare for them. **4:25** Deadly weapon protection is a faster-emerging area of risk and is less established and understood than cyber risk. **4:33** However, neither of these risks is truly new. They are issues that business leaders need to take seriously. These are boardroom-level risks that require leadership attention and action. **4:41** Stakeholders are unlikely to look kindly on business leaders who fail to rise to this challenge.