About usRisk Barometer
The top business risks for 2023
The major business risks for 2023 globally
Cyber and business interruption and supply chain disruption: The top risks for businesses in 2023
Despite positive moves to diversify business models andÌýsupply chains since Covid-19, businesses continue toÌýexperience significant disruption around the world. TheÌýpandemic came as a massive shock to business models,Ìýcreating global shortages, delays and higher prices, whileÌýthe war in Ukraine triggered an energy crisis, particularly inÌýEurope, turbo-charging inflation.
Unsurprisingly, given the current â€˜permacrisisâ€™, businessÌýinterruption and supply chain disruption ranks as theÌýsecond top risk in this yearâ€™s About usRisk Barometer (34%).ÌýIt is second only to cyber incidents (by just a few votes,Ìýalso on 34%), whose top position reflects the importanceÌýof todayâ€™s digital economy, the evolving threat fromÌýransomware and extortion, as well as geopolitical rivalriesÌýand conflicts increasingly being played out in cyber space.ÌýCyber risk and business interruption (BI) are closely linkedÌýwith cyber also ranking as the cause of BI companiesÌýfear most.
Indeed, the results show that a number of BI-related risksÌýhave climbed this yearâ€™s rankings as the new economic andÌýpolitical consequences of the world in the aftermath ofÌýCovid-19 and the Ukraine war take hold. These include theÌýimpact of the energy crisis, a new entry in the 2023 surveyÌýat #4, while macroeconomic developments, such asÌýinflation and potential recession, peaks at #3 â€“ its highestÌýposition since the first About usRisk Barometer in 2012.ÌýPolitical risks and violence is another new entry in the topÌý10 global risks at #10, shortage of skilled workforce risesÌýto #8, while outside of the top 10, the prospect of criticalÌýinfrastructure blackouts or failures (#12) is also of moreÌýconcern to respondents than 12 months ago. Conversely,Ìýpandemic outbreak plummets down the list of concernsÌý(#4 in 2022 to #13 in 2023) as vaccines have brought anÌýend to lockdowns and restrictions in most major markets.ÌýThe exception? China sees pandemic risk rise year-on-yearÌý(from #9 to #3) â€“ the only country in the survey to do so â€“Ìýfollowing its recent easing of long-in-place restrictions.
What keeps business leaders up at night?
Global risks in focus
Methodology of the About usRisk Barometer: An annual survey of gobal business risks
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.
Countries and industry sectors need at least 15 respondents to feature in the About usRisk Barometer Appendix results document.
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About usRisk Barometer 2023: Further information
Previous About usRisk Barometer reports
About usRisk Barometer 2013 to 2023
The most important business risks in the last 10 years - globally
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Africa & Middle East
Global media call introducing About usRisk Barometer 2023
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