Persistent cyber disruptions continue to be a major worry for businesses in the United States and worldwide.
The Allianz Risk Barometer 2025, released on Wednesday, has highlighted cybersecurity risks as the top business concern globally for the fourth consecutive year[1]. This year, cyber risk has risen by the largest margin ever recorded in its rankings, underscoring the escalating concern about cyber incidents worldwide across all industries[1].
Key trends and concerns identified in global cybersecurity risk include ransomware, data breaches, and IT disruptions. Ransomware, part of the broader category of cybercrime, remains a primary and growing threat to businesses globally, causing significant disruptions and financial impacts[2][3]. Data breaches continue to pose critical risks by compromising sensitive information, leading to reputational damage, regulatory penalties, and operational disturbances[1][2]. IT disruptions increasingly threaten IT infrastructure availability and integrity, resulting in operational shutdowns and material financial losses[1].
The increasing integration of digital transformation and AI in enterprises further amplifies cybersecurity risks, as new digital infrastructure and AI-driven systems can introduce fresh vulnerabilities if not properly secured[4]. In fact, cybercrime is now the single biggest threat to businesses, overtaking traditional risks and creating a complex challenge for organizations worldwide[2][3].
The disruption of millions of Microsoft computer systems in July 2024, due to a faulty CrowdStrike software update, serves as a real-world example of the major concern IT security issues pose for companies worldwide[5]. Ransomware was the leading cause of cyber insurance loss in the first half of 2024, accounting for 58% of the value of large cyber-related insurance claims during this period[6].
Operational resilience has emerged as a key concern among business leaders, focusing on maintaining operations in the face of a cyberattack and other disruptive events. However, data from the 2024 Allianz Risk Barometer study did not specify whether operational resilience was a key concern among U.S. business leaders[7].
Attacks on critical infrastructure and physical assets were a concern for 57% of respondents, but the 2024 Allianz Risk Barometer study did not provide specific data on the percentage of U.S. respondents concerned about these threats[8]. The margin between the top business risks was the widest ever, with a 7% gap between cyber and business interruption, the second largest global concern[9].
Michael Bruch, global head of risk advisory services at Allianz Commercial, emphasized the need for diverse and adaptable solutions for disaster recovery and business continuity plans due to potential over-reliance on technology[10]. As cybersecurity risks continue to evolve, organizations are thus compelled to prioritize robust cybersecurity strategies to mitigate these threats.
[1] https://www.allianz.com/en/about-us/media/news-and-insights/allianz-risk-barometer-2025-cyber-risks-dominate-the-global-business-landscape.html [2] https://www.zdnet.com/article/allianz-risk-barometer-2025-cyber-risks-top-business-concern-globally-for-fourth-consecutive-year/ [3] https://www.forbes.com/sites/forbestechcouncil/2025/02/01/the-allianz-risk-barometer-2025-cybersecurity-risks-are-the-top-business-concern-globally/?sh=77162c8675e7 [4] https://www.information-age.com/cybersecurity/vulnerabilities/123501484/allianz-risk-barometer-2025-cybersecurity-risks-top-business-concern-globally-for-fourth-consecutive-year [5] https://www.bbc.com/news/technology-58184244 [6] https://www.reuters.com/business/cybersecurity-ransomware-accounted-58-cyber-related-insurance-claims-2024-allianz-2024-07-21/ [7] https://www.insurancebusinessmag.com/us/news/cyber/allianz-risk-barometer-2024-us-respondents-list-cyber-incidents-as-primary-concern-86805.aspx [8] https://www.insurancebusinessmag.com/us/news/cyber/allianz-risk-barometer-2024-us-respondents-list-cyber-incidents-as-primary-concern-86805.aspx [9] https://www.insurancebusinessmag.com/us/news/cyber/allianz-risk-barometer-2024-us-respondents-list-cyber-incidents-as-primary-concern-86805.aspx [10] https://www.insurancebusinessmag.com/us/news/cyber/allianz-risk-barometer-2024-us-respondents-list-cyber-incidents-as-primary-concern-86805.aspx
- The rising concern about ransomware, a primary and growing threat in the realm of cybercrime, necessitates robust cybersecurity strategies for businesses worldwide to mitigate significant disruptions and financial impacts.
- As data breaches continue to compromise sensitive information, leading to operational disturbances, reputational damage, and regulatory penalties, effective risk management in data-and-cloud-computing technologies is crucial for organizations globally.
- With the integration of digital transformation and AI in enterprises, there is a need to secure new digital infrastructure and AI-driven systems to prevent fresh vulnerabilities, as these can potentially exacerbate existing cybersecurity risks.
