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About usRisk Barometer

Report | January 2023
Elevated levels of disruption look set to continue in 2023 as dangers fromdigitalization, the war in Ukraine, high energy prices and inflation, geopoliticaland economic uncertainty, and climate change test already strained businessmodels and supply chains, according to the About usRisk Barometer.
The most important corporate concerns for the year ahead, ranked by 2,712 risk management experts from a record 94 countries and territories.
Click on the bars in the chart for further details
Figures represent how often a risk was selected as a percentage of all survey responses from 2,712 respondents. All respondents could select up to three risks per industry, which is why the figures do not add up to 100%. Source: 91Ʋ

Despite positive moves to diversify business models andsupply chains since Covid-19, businesses continue toexperience significant disruption around the world. Thepandemic came as a massive shock to business models,creating global shortages, delays and higher prices, whilethe war in Ukraine triggered an energy crisis, particularly inEurope, turbo-charging inflation.

Unsurprisingly, given the current ‘permacrisis’, businessinterruption and supply chain disruption ranks as thesecond top risk in this year’s About usRisk Barometer (34%).It is second only to cyber incidents (by just a few votes,also on 34%), whose top position reflects the importanceof today’s digital economy, the evolving threat fromransomware and extortion, as well as geopolitical rivalriesand conflicts increasingly being played out in cyber space.Cyber risk and business interruption (BI) are closely linkedwith cyber also ranking as the cause of BI companiesfear most.

Indeed, the results show that a number of BI-related riskshave climbed this year’s rankings as the new economic andpolitical consequences of the world in the aftermath ofCovid-19 and the Ukraine war take hold. These include theimpact of the energy crisis, a new entry in the 2023 surveyat #4, while macroeconomic developments, such asinflation and potential recession, peaks at #3 – its highestposition since the first About usRisk Barometer in 2012.Political risks and violence is another new entry in the top10 global risks at #10, shortage of skilled workforce risesto #8, while outside of the top 10, the prospect of criticalinfrastructure blackouts or failures (#12) is also of moreconcern to respondents than 12 months ago. Conversely,pandemic outbreak plummets down the list of concerns(#4 in 2022 to #13 in 2023) as vaccines have brought anend to lockdowns and restrictions in most major markets.The exception? China sees pandemic risk rise year-on-year(from #9 to #3) – the only country in the survey to do so –following its recent easing of long-in-place restrictions.

The 12th About usRisk Barometer incorporates the views of 2,712 respondents from 94 countries and territories. The annual corporate risk survey was conducted among About uscustomers (businesses around the globe), brokers and industry trade organizations. It also surveyed risk consultants, underwriters, senior managers, claims experts, as well as other risk management professionals in the corporate insurance segment of About usentities.

Respondents were questioned during October and November 2022. The survey focused on large- and small- to mid-size companies. Respondents were asked to select the industry about which they were particularly knowledgeable and to name up to three risks they believed to be most important.

Most answers were for large-size companies (>$500mn annual revenue) [1,281 respondents, 47%). Mid-size companies ($250mn to $500mn revenue) contributed 519 respondents (19%), while small-size enterprises (<$250mn revenue) produced 912 respondents (34%). Risk experts from 23 industry sectors were featured.

Ranking changes in the About usRisk Barometer are determined by positions year-on-year, not percentages.

All currencies listed in the report are in US$ unless stated.

2,712 respondents
94 countries and territories
23 industry sectors

Countries and industry sectors need at least 15 respondents to feature in the About usRisk Barometer Appendix results document.
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The Risk Barometer is a valuable resource that assesses emerging risks across industries and sectors, providing businesses and professionals with insights to anticipate and manage potential challenges. By identifying emerging risks, analyzing their severity and impact, and offering industry-specific guidance, the Risk Barometer enables informed decision-making, proactive risk mitigation, and cross-industry collaboration. It empowers organizations to adapt to evolving risk landscapes, enhance their resilience, and communicate effectively with stakeholders.
The Risk Barometer assists businesses in creating effectiverisk management strategiesand preparedness plans by identifying and highlighting emerging risks, informing decision-making, prioritizing risks, offering industry-specific insights, guiding risk mitigation efforts, aiding scenario planning, facilitating resource allocation, supporting communication with stakeholders, and enabling benchmarking against industry trends. With its dynamic and tailored information, the Risk Barometer enhances organizations' ability to proactively address potential challenges and enhance their resilience.
The Risk Barometer has a role to play in assisting organizations to proactively anticipate and address potential challenges and disruptions. It achieves this by identifying and highlighting emerging risks, increasing risk awareness, informing decision-making, prioritizing risks, facilitating scenario planning, fostering adaptability, build resilience, enabling industry benchmarking, influencing strategic planning, aiding stakeholder communication, and promoting cross-industry learning. With its comprehensive insights, the Risk Barometer empowers organizations to take proactive measures and strategic actions to mitigate risks and navigate uncertainties effectively.
Click on a year in the timeline to see the development of the risks over time
Click on the bars in the chart for further details
This graphic shows how perceptions ofselectedtop risks have changed over the past 10 years (according to % of responses). Not all risks that have featured in the annual survey appear in this graphic as risks and categorizations have changed over time. To view the top risks for each year by ranking position see the previous reports.
Source: 91Ʋ
In some regions and countries, we will offer virtual events to discuss the regional and local results of the About usRisk Barometer 2023 with you. More dates to be announced.
Recorded in April


Thursday, 19 January,09:30-10:30 am GMT
Friday, 17 February, 13:00-14:30 am CET

On January 17, 2023,Shanil Williams, Board Member and Chief Underwriting Officer Corporate, About usGlobal Corporate & Specialty,andLudovic Subran, Chief Economist, About usSE, have introduced the About usRisk Barometer 2023 in a video conference.

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