Allianz Risk Barometer indicates continued high pressure from cyber threats

Specialist insurers Allianz Global Corporate & Specialty (AGCS) have released the results of their “Allianz Risk Barometer” survey for 2023. The 2,712 participating risk management experts have once again identified cyber threats as posing the biggest risk to the business their companies are conducting. Cybercrime is believed to cost the world economy more than a trillion dollars annually – roughly one percent of global GDP.

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Data breaches ever more costly for companies

IBM has released its annual “Cost of a Data Breach Report” for the 17th time. As in previous years, the data was collected independently by the market researchers at the Ponemon Institute. In over 3,600 interviews, employees at more than 550 companies were surveyed on data breaches occurring between March 2021 and March 2022 – in 17 countries and across 17 sectors.

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