{"id":3097,"date":"2019-02-21T17:56:42","date_gmt":"2019-02-21T16:56:42","guid":{"rendered":"https:\/\/www.m-q.ch\/?p=3097"},"modified":"2019-02-21T17:56:42","modified_gmt":"2019-02-21T16:56:42","slug":"allianz-risk-barometer-cyber-incidents-and-business-interruption-also-worry-swiss-companies","status":"publish","type":"post","link":"https:\/\/www.m-q.ch\/en\/allianz-risk-barometer-cyber-incidents-and-business-interruption-also-worry-swiss-companies\/","title":{"rendered":"Allianz Risk Barometer: Cyber incidents and business interruption also worry Swiss companies"},"content":{"rendered":"<div class=\"copy grid8\">\n<figure id=\"attachment_3098\" aria-describedby=\"caption-attachment-3098\" style=\"width: 640px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3098\" src=\"https:\/\/www.m-q.ch\/wp-content\/uploads\/2019\/02\/Allianz-Risk-Barometer-MQ-Management-u-Qualitaet.jpg\" alt=\"\" width=\"640\" height=\"427\" srcset=\"https:\/\/www.m-q.ch\/wp-content\/uploads\/2019\/02\/Allianz-Risk-Barometer-MQ-Management-u-Qualitaet.jpg 640w, https:\/\/www.m-q.ch\/wp-content\/uploads\/2019\/02\/Allianz-Risk-Barometer-MQ-Management-u-Qualitaet-16x12.jpg 16w, https:\/\/www.m-q.ch\/wp-content\/uploads\/2019\/02\/Allianz-Risk-Barometer-MQ-Management-u-Qualitaet-262x175.jpg 262w, https:\/\/www.m-q.ch\/wp-content\/uploads\/2019\/02\/Allianz-Risk-Barometer-MQ-Management-u-Qualitaet-525x350.jpg 525w, https:\/\/www.m-q.ch\/wp-content\/uploads\/2019\/02\/Allianz-Risk-Barometer-MQ-Management-u-Qualitaet-300x200.jpg 300w, https:\/\/www.m-q.ch\/wp-content\/uploads\/2019\/02\/Allianz-Risk-Barometer-MQ-Management-u-Qualitaet-624x416.jpg 624w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-3098\" class=\"wp-caption-text\">Data scandals, widespread IT outages and the introduction of stricter data protection regulations are also worrying local businesses. (Symbol image: Unsplash)<\/figcaption><\/figure>\n<p>The Allianz Risk Barometer provides an important ranking of the biggest business risks. It also looks at Swiss companies. However, there were some surprising changes in the Barometer in 2018: Although the risk of a business interruption (58%) continues to dominate from a company's perspective, fear of a cyber incident rose by one rank to second place (48%). Concerns about legal changes in the economic environment, caused for example by trade wars, tariffs, economic sanctions or the still uncertain Brexit negotiations, also took third place in the Swiss ranking for the first time (29%), putting it on a par with the risk of natural disasters (29%).<\/p>\n<p>New in the top ten are concerns about a shortage of skilled workers (15%) and a loss of reputation (10%).<\/p>\n<p>\"The environment for companies has become more unpredictable, the risks have increased - this is clearly shown by the survey of risk experts. This makes it all the more important to recognize the risk potential in the company at an early stage and to take action,\" emphasizes Gregor Huber, Head of Corporate Insurance at Allianz Suisse. Insurance companies in particular, with their risk expertise, are important partners here, he says, as they provide support in risk analysis and offer products for protection. For example, Allianz Suisse recently expanded its cyber insurance for SMEs to include the additional cover \"Cyber Crime - Social Engineering\", which covers damage caused by fraudulent instructions and invoices.<\/p>\n<p><strong>\u00a0<\/strong><strong>Cyber: growing awareness, growing losses<\/strong><\/p>\n<p>The growing concern over cyber incidents follows a year of numerous data scandals, hacker attacks and IT mishaps. \"We are now at a point where cyber is as important to businesses as traditional risks,\" says Jens Krickhahn, Practice Leader Cyber, AGCS Central and Eastern Europe. Cybercrime is now estimated to cost $600 billion (\u20ac520 billion) per year, up from $445 billion (\u20ac385 billion) in 2014 (source: Center for Strategic and International Studies).<\/p>\n<p>This compares to an average economic loss of $208 billion (\u20ac180 billion) from natural disasters over the last ten years - only about a third. While criminals are using more innovative methods for data theft, online fraud or cyber extortion, the threat from hacker groups closely linked to nation states is also growing. They aim to attack critical infrastructure operators or steal valuable data or trade secrets from foreign companies.<\/p>\n<p><strong>Business interruptions: More causes, higher losses<\/strong><\/p>\n<p>Business interruption (BI) leads the Allianz Risk Barometer for the seventh year in a row. However, the scenarios and triggers are becoming increasingly diverse and complex. In addition to fire and natural disasters, IT failures, product recalls, quality problems, terrorism, political unrest or environmental pollution are increasingly leading to business interruption. A recent claims analysis by AGCS highlights the growing importance of business interruption: According to the study, almost all major property losses now include a BU element, which usually accounts for the largest share of the loss. It is also striking that cyber and BU risks are increasingly linked, as ransomware attacks or IT failures often lead to business and service interruptions. For example, according to the Allianz Risk Barometer, cyber incidents are the most feared trigger of business interruption (50% of responses), followed by fire\/explosion (40%) and natural disasters (38%).<\/p>\n<p><strong>Legal changes: New risks in 2019 <\/strong><\/p>\n<p>2018 was a turning point for global trade - accordingly, companies in the export nation of Switzerland are also increasingly concerned about legal changes in the economic environment. The trade war between the United States and China, rising tariffs and economic sanctions (Russia, Iran) are weighing on foreign trade. In 2019, further risks are emerging due to the upcoming elections in Europe, lower growth prospects for the eurozone and the USA, and the uncertain outcome of the Brexit negotiations.<\/p>\n<p><em>For more information, including the full report and infographics, please visit <\/em><a href=\"https:\/\/www.agcs.allianz.com\/\" target=\"_blank\" rel=\"noopener\"><em>www.agcs.allianz.com<\/em><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a class=\"dwn pdf\" href=\"https:\/\/www.allianz.ch\/v_1547221537825\/media-neu\/news\/pdf_zu_medienmitteilungen\/2019\/2019_01_15-Allianz_Suisse-Medienmitteilung_Risk_Barometer.pdf\" target=\"_blank\" rel=\"noopener\">Allianz Risk Barometer 2019: Cyber risks are still on the rise<\/a><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The Allianz Risk Barometer provides an important ranking of the biggest business risks. It also looks at Swiss companies. In 2018, however, there were some surprising changes in the Barometer: While the risk of a business interruption (58%) continues to dominate from a company's perspective, the fear of a cyber incident rose one rank to second place (48%). Also, the concern [...]<\/p>","protected":false},"author":35,"featured_media":3098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[3904,3543,3994,3474,3362],"class_list":["post-3097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-risikomanagement","tag-cybercrime","tag-ranking","tag-reputation","tag-risk","tag-studie"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Allianz Risk Barometer: Cybervorf\u00e4lle und Betriebsunterbrechung sorgen auch Schweizer Betriebe - MQ Management und Qualit\u00e4t<\/title>\n<meta name=\"description\" content=\"Laut dem Allianz Risk Barometer 2019 geh\u00f6ren Cybervorf\u00e4lle gemeinsam mit Betriebsunterbrechungen zu den gr\u00f6ssten Gesch\u00e4ftsrisiken weltweit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.m-q.ch\/en\/allianz-risk-barometer-cyber-incidents-and-business-interruption-also-worry-swiss-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allianz Risk Barometer: Cybervorf\u00e4lle und Betriebsunterbrechung sorgen auch Schweizer Betriebe - 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