Aon’s 19th annual Global Risk Management Survey has found that many organizations are ‘rethinking resilience for a new era of risk’.
Based on responses from nearly 3,000 risk managers, C-suite leaders and executives in 63 countries, the survey report highlights the top risks on business leaders’ minds, and why they are being forced to rethink resilience, moving from reactive measures to proactive, integrated strategies.
Despite rising volatility, most organizations remain underprepared: only 14 percent of respondents track their exposure to the top ten risks and only 19 percent use analytics to evaluate the value of their insurance programs.
The 2025 Top Ten Global Risks
The report identifies the current Top Ten Global Risks as:
- Cyber Attack or Data Breach
- Business Interruption
- Economic Slowdown or Slow Recovery
- Regulatory or Legislative Changes
- Increasing Competition
- Commodity Price Risk or Scarcity of Materials
- Supply Chain or Distribution Failure
- Damage to Reputation or Brand
- Geopolitical Volatility
- Cash Flow or Liquidity Risk
Cyber Attack or Data Breach” remains the number one current and future risk according to the survey respondents, as the rapid adoption of digital platforms and AI technologies has expanded the attack surface for threat actors.
“The scale and complexity of cyber risk today is unlike anything we’ve seen before,” said Brent Rieth, Global Cyber Leader for Aon. “Our clients are increasingly using AI, both defensively and offensively, to enhance resilience and unlock growth. The key is embedding cyber into board-level strategy, investing in quantification, and viewing resilience as a competitive differentiator.”
Despite its top ranking, only 13 percent of respondents say they have quantified their cyber exposure. This gap between awareness and action is contributing to significant underinsurance, exposing businesses to financial and reputational loss. The report emphasizes the need for structured AI risk governance and integrated cyber resilience frameworks to reduce this gap.
The growing influence of interconnected megatrends
The survey report also provides a forward-looking perspective on the risks that business leaders expect to be most critical by 2028. Cyber risk remains the top concern for the future, while AI and climate change join the top ten, reflecting the accelerating impact of technology and extreme weather on global business.
The Top 10 Future Risks by 2028 are:
- Cyber Attack or Data Breach
- Economic Slowdown or Slow Recovery
- Increasing Competition
- Commodity Price Risk or Scarcity of Materials
- Geopolitical Volatility
- Regulatory or Legislative Changes
- Business Interruption
- Artificial Intelligence
- Climate Change
- Cash Flow or Liquidity Risk
“What’s striking about this year’s future risk rankings is how quickly new forces like AI and climate move to the forefront,” said Richard Waterer, Global Risk Consulting Leader for Aon. “These risks don’t just add complexity; they fundamentally change how organizations need to think about resilience. The convergence of technology, geopolitics and environmental pressures means leaders must anticipate how these megatrends interact and build strategies that are flexible enough to adapt to whatever comes next.”
