New times, new business risks

New times, new dangers. The barometer of risk that, as in every year, prepares Allianz raises cyber attacks to the cusp of threats that face businesses on a glo

New times, new business risks

New times, new dangers. The barometer of risk that, as in every year, prepares Allianz raises cyber attacks to the cusp of threats that face businesses on a global scale. For the first time in the nine years in which the insurer has prepared this study, the cyber incidents relegate to the loss of profit, which up to now placed as a higher danger 2,700 experts from a hundred countries participating in the survey. For its part, the Report of Global Risks in 2020 at the World Economic Forum points out, above all, to extreme weather events and climate change.


The cyber attacks on businesses of strategic interest to spain increased by 25%, The Government confirmed a massive cyber attack to Spanish companies

“In the last year there have been an increasing number of ransomware [malicious programs that lock the computer and demands a payment in exchange for recovering the computers and the information on], each time more productive for the attacker. The bailouts have gone from tens of thousands of dollars to millions,” said Juan Manuel Black, ceo of Allianz Global Corporate Spain.

A good example is what happened last summer in two cities in the united States. An attack ransomware left the small towns and villages of Riviera Beach, and Lake City, two in Florida, no computer systems. Against the guidelines of the federal Government, the full local agreed unanimously to pay in bitcoins to the kidnappers, who turn to this virtual currency to prevent crawling. Baltimore, Atlanta, and New Jersey have also suffered similar attacks, like the computers of some of the small and medium-sized enterprises.

To this heightened perception of the risk of cyber-attacks have contributed to new sanctions from 2018 includes the european regulations. “Before they attacked only to the network of the company. But it is increasingly common for the impersonation of the identity of the private media of the employee,” continues Moreno, at the offices of Allianz in Madrid. This policy insists on the risk posed by these attacks, that disrupt the operations of the companies.

“In just seven years, the risk of cybercrime has climbed from the 15th place to the first. The awareness has grown in these years, driven by the importance that data and information systems for the enterprises, as well as several incidents of great resonance,” continues the executive report of the barometer. The losses are particularly high for law firms, consulting firms and architecture studios, sectors in which the databases are essential.

The study of the World Economic Forum highlights the importance of environmental effects: for the first time in the ten years in the writing of this report, the five largest risks come from the environment. “The political landscape is polarized. Sea levels are rising, and each time there are more fires due to climate change. This year, the leaders must collaborate with all sectors to promote the cooperation”, says Borge Brende, the chairman of the entity with its headquarters in Switzerland.

The five biggest threats in 2020

on A global scale. The German insurance Allianz highlights the cyber-incidents, the loss of benefits (for example, by a disruption in the supply chain), legislative amendments and regulatory (protectionism included), natural disasters, and changes in markets (more competition, volatility or stagnation).

In Spain. The barometer stands at the head, again, cyber-incidents and the loss of benefits, followed by natural disasters, changes in legislation (such as the Brexit), and the fire or explosion in your facility.

Updated Date: 18 January 2020, 00:00



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