What Were the Biggest Global Business Risks in 2021?

Allianz's survey reveals that business interruptions, such as supply chain disruptions, were the biggest business risks in 2021. At least 41% of respondents in the survey chose this option, the highest among other risks.

Respondents citing the COVID-19 pandemic and cyberattacks as the biggest business risks each accounted for 40%. This is because the pandemic is considered to have caused a health crisis and mobility restrictions, while cyberattacks resulted in data breaches and penalty payments.

19% of respondents considered market developments as the biggest business risk, due to volatility, increasing competition, or market fluctuations. Regulatory changes, such as trade wars and economic sanctions, also had the same percentage.

Meanwhile, 17% of respondents considered natural disasters as the biggest business risk. 16% of respondents considered fire and explosions to be dangerous to their businesses.

Furthermore, 13% of respondents considered climate change as the biggest business risk. Only 11% of respondents believed that political instability was the biggest business risk for them.

Allianz conducted this survey among 2,769 respondents who are users of its insurance services in 92 countries. The survey was conducted in October-November 2020.