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Comment on Allianz insurance group global Risk Barometer

January 2022 by Sean Deuby, Director of Services, Semperis

Allianz insurance group has just published a global Risk Barometer that shows that cyberattacks are the greatest threat to businesses.

Comment from Sean Deuby | Director of Services, Semperis

“This analysis confirms what we’ve experienced over the last year: despite the rise in climate change-driven natural catastrophes, cyber threats and the resulting business disruptions are once again the top threats to businesses. One reason for this change is the different nature of cyber risks compared with environmental risks. While environmental risks are geocentric (and the primary reason organizations have multiple data centers), cyber risks are network centric. A natural disaster is typically limited to a geographic region, while a cyber disaster can flash across a global network in a matter of minutes. With the right keys—for example, access to an administrative account—the barriers between data centers become immaterial. These attacks are the reason organizations must improve their cyber resilience for the recovery phase of an incident, not just the detection and response phases. Recognize the risks that you might experience from a cyberattack—in revenue loss, reputational damage, and potential harm to public safety in the case of critical infrastructure or healthcare organizations. Mitigate those risks with software designed specifically to recover from cyberattacks.”

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