Top 10 Business Risks
The risk of Cyber moving from No.3 last year to No.1 this year.
The risk of Cyber moving from No.3 last year to No.1 this year.
Our friends at Allianz have released their 2018 Risk Barometer Report, and it is no surprise that the risk of Cyber incidents sits at the top of the list.
The report notes companies are increasingly concerned about changing regulation and high profile attacks, with the risk of Cyber moving from No.3 last year to No.1 this year. This is the seventh Allianz Risk Barometer, which is published annually by Allianz Global Corporate & Specialty (AGCS).
Interestingly, Business Interruption remains at No.2, with the top 2 risks ranked well ahead of any other risk, and thus an important reminder of making sure your insurance program meets the key risks faced by businesses.
The risk of New technologies was also a big mover in Australia’s risk list this year. It jumped from seventh place in 2017 to equal third.
Top 10 risks in Australia
Rank | Percent | 2017 rank | Trend | |
1. | Cyber incidents (e.g. cyber crime, IT failure, data breaches) | 49% | 3 (31%) | ˄ |
2. | Business interruption (incl. supply chain disruption) | 46% | 1 (51%) | ˅ |
3. | Changes in legislation and regulation (e.g. government change, economic sanctions, protectionism, Brexit, Eurozone disintegration) |
28% | 4 (23%) | ˄ |
4. | New technologies (e.g. impact of increasing interconnectivity, nanotechnology, artificial intelligence, 3D printing, drones) | 28% | 7 (18%) | ˄ |
5. | Loss of reputation or brand value | 26% | 7 (18%) | ˄ |
6. | Natural catastrophes (e.g. storm, flood, earthquake) | 26% | 6 (21%) | ˄ |
7. | Market developments (e.g. volatility, intensified competition / new entrants, M&A, market stagnation, market fluctuation) |
21% | 2 (44%) | ˅ |
8. | Quality deficiencies, serial defects, product recall NEW | 13% | – | ˄ |
9. | Climate change/increasing volatility of weather NEW | 10% | – | ˄ |
10. | Talent shortage NEW | 10% | – | ˄ |
Toll free: 1800 245 123
Phone: (03) 9835 1300
info@abcountrywide.com.au
Level 2, 35 Dalmore Drive
Scoresby VIC 3179
Toll free: 1800 245 123
Phone: (03) 5625 1015
drouin@abcountrywide.com.au
3 Bank Place, Drouin VIC 3818
Toll free: 1800 245 123
Phone: (03) 5662 4222
leongatha@abcountrywide.com.au
63 Bair St, Leongatha, VIC 3953
By purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with COVERMORE by calling 1300 728 822.
• If you need to make changes to the policy, you will need to contact COVERMORE on 1300 728 822.
By purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with CHUBB by calling 1800 803 548.
• If you need to make changes to the policy, you will need to contact CHUBB on 1800 803 548..
By purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with EMERGENCE by calling 1300 799 562.
• If you need to make changes to the policy, you will need to contact EMERGENCE on 1300 799 562
By clicking continue you will be directed to the Countrywide Advice Website.
Or call Countrywide Advice on 1300 991 479.
Firstly, make sure you are using one of our recommended browsers – Firefox, Chrome or Safari.
PAGE IS UPLOADING BUT THERE’S NO FORM
OOPS! This is probably an issue at our end. Shoot us an email and we’ll fix it with a new link.
FORM IS VERY SLOW OR TIMING OUT
Please check your internet connection is running correctly. Try other websites to see if they work.
If that’s OK then our server is probably experiencing high traffic issues. Please try the following.
FORM IS BEING BLOCKED BY A FIREWALL MESSAGE
We have protection in place to secure data but sometimes this can cause conflict with your security settings.
Let us know and we’ll give you an alternative link for the form.
We’d love your feedback to help us improve this process. Shoot us an email.
By purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with Austbrokers Life Solutions by calling 1300 161 635.
• If you need to make changes to the policy, you will need to contact Austbrokers Life Solutions on 1300 161 635.