Allianz Risk Barometer looks at the top concerns for organizations in 2025

Cyber incidents, such as data breaches or ransomware attacks, and IT disruptions are the biggest worry for companies around the world in 2025, according to the latest Allianz Risk Barometer. General ‘business interruption’ is also a main concern for companies of all sizes, ranking second after cyber incidents and IT disruptions. This is followed in third place by ‘natural catastrophes’. The biggest riser in this year’s Allianz Risk Barometer is climate change, from seventh in last year’s Barometer to fifth this year, achieving its highest ever position in 14 years of the survey.

Large corporates, mid-size, and smaller businesses all perceive cyber incidents as the top business risk. However, there are significant differences in the rest of the ranking. Smaller companies are more concerned about more localized and immediate risks, such as regulatory compliance, macroeconomic developments, and skill shortages, but there are also signs that some of the risks that have preoccupied larger companies are now starting to bite smaller firms too, with climate change and ‘political risks and violence’ climbing the ranking.

2024 was an extraordinary year in terms of risk management and the results of our annual Allianz Risk Barometer reflect the uncertainty many companies around the globe are facing right now. What stands out this year is the interconnectivity of the top risks. Climate change, emerging technology, regulation and geopolitical risks are increasingly intertwined, resulting in a complex network of cause and effect. Businesses need to adopt a holistic approach to risk management and consistently strive to enhance their resilience in order to address these fast-evolving risks.
Vanessa Maxwell, Allianz Commercial Chief Underwriting Officer