Cybersecurity remains the main risk for companies
Cybersecurity remains the main risk for companies
Publish Date: 2026-01-14 05:16:00
Source Domain: business-review.eu
Using an unordered list, summarize the following article with between 4 and 8 key points.
Cyber incidents generated numerous challenges in 2025 and remain the biggest concern for companies globally in 2026, according to the Allianz Risk Barometer. Last year was also significant for the acceleration of artificial intelligence (AI) adoption, and this is reflected in its ranking as the fastest-growing risk in the annual survey, in second place. Nearly half of respondents believe that AI brings more benefits than risks to their industry. However, one-fifth say the opposite.
For the first time, business interruption is no longer among the top two risks, falling to third place. However, business interruption remains a major concern, as it can be a consequence of other risks in the global top 10.
Factors such as a less severe hurricane season in terms of losses in 2025 have caused the risk of natural disasters to drop to fifth place compared to the previous year. At the same time, political risks and violence have risen from ninth to seventh place amid growing concerns about geopolitical volatility and conflicts around the world.
In Romania, the Allianz Risk Barometer 2026 indicates an increasingly complex risk environment for companies, with legislative and regulatory changes at the forefront. At the same time, artificial intelligence is becoming a key driver of transformation, generating both opportunities and emerging risks related to implementation and liability. In this context, AI ranks second in the risk ranking for companies in Romania.
Cyber incidents remain a major concern, reflecting the growing dependence on digital infrastructure, while macroeconomic developments continue to influence investment decisions and long-term planning. Exposure to natural disasters, political risks, climate change, business interruption, energy risks, and health risks complete the landscape, underscoring the importance of an integrated and proactive approach to risk management.
“For our clients, the challenge of 2026 is not just managing individual risks, but understanding how they interconnect and can amplify the impact on their business. Legislative changes, cyber risks, and the adoption of artificial intelligence require customized solutions, specialized expertise, and a long-term strategic approach. Our role is to be a trusted partner for companies, helping them anticipate risks, strengthen their resilience, and turn uncertainty into a sustainable competitive advantage,” says Virgil Șoncutean, CEO of Allianz-Țiriac Romania.
“Following the volatility and uncertainty of 2025, companies continue to face interconnected and highly complex risks in 2026, in a rapidly changing environment. Given that artificial intelligence has dominated many socio-economic discussions, it is not surprising that it ranks highest in the Allianz Risk Barometer. In addition to the significant opportunities it brings, its transformative potential and rapid pace of evolution and adoption are reshaping the risk landscape, becoming a major concern for companies of all sizes worldwide, alongside other established threats,” says Thomas Lillelund, CEO of Allianz Commercial.
Cyber risks, by far the biggest concern for companies
In 2026, cyber incidents represent the main global risk for companies for the fifth consecutive year, recording the highest score in history (42% of responses) and the largest difference compared to other risks (+10%). They rank as the main corporate concern in all regions (America, Asia-Pacific, Europe, Africa, and the Middle East). The continued dominance of cyber risks in the Allianz Risk Barometer reflects the growing dependence on digital technologies, in a context where the cyber threat landscape, as well as the geopolitical and regulatory environment, are rapidly evolving. Recent, highly publicized cyber attacks underscore the ongoing nature of this threat to companies of all sizes. Small and medium-sized companies are increasingly targeted and face increased pressure, given their limited resources dedicated to cyber security.
“Large companies’ investments in cybersecurity and resilience are paying off, enabling early detection and rapid response to attacks. However, cyber risk continues to evolve. Organizations are becoming increasingly dependent on third-party providers for critical data and services, while artificial intelligence amplifies threats, expanding the attack surface and accentuating existing vulnerabilities,” explains Michael Bruch, Global Head of Risk Consulting Advisory Services, Allianz Commercial.
Artificial intelligence generates emerging risks, but also new business opportunities
Artificial intelligence (AI) has rapidly risen to become one of the top global business concerns, reaching second place (32%) in 2026, up from tenth place in 2025—the highest increase in this year’s ranking. AI is seeing significant growth across all regions, ranking second in the Americas, Asia-Pacific, Africa, and the Middle East, and third in Europe. It also represents a growing risk for companies of all sizes, ranking in the top three for large, medium, and small companies. As the adoption of artificial intelligence accelerates and becomes more deeply integrated into core business operations, respondents anticipate an intensification of AI-related risks, particularly with regard to liability issues. The rapid spread of generative and agentic artificial intelligence systems, along with their increasingly widespread use in practice, has raised awareness of the actual level of exposure of organizations.
“Companies increasingly perceive artificial intelligence not only as a major strategic opportunity, but also as a complex source of operational, legal, and reputational risks. In many cases, the pace of adoption is outstripping the ability of governance frameworks, regulations, and the workforce to keep up,” says Ludovic Subran, chief economist at Allianz. “As more companies seek to expand in 2026, they will face greater exposure to issues related to system reliability, data quality, integration difficulties, and a shortage of specialized skills. At the same time, new liability exposures are emerging related to automated decisions, biased or discriminatory models, misuse of intellectual property, and uncertainty about responsibility when AI-generated outcomes cause harm.”
Business interruption, closely linked to geopolitical risks
The year 2025 marked a shift towards protectionist trade policies and tariff conflicts, which brought a high level of uncertainty to the global economy. It was also a year characterized by regional conflicts in the Middle East and Russia/Ukraine, as well as border disputes between India/Pakistan and Thailand/Cambodia and civil wars in Africa—a trend that continues in 2026 with US intervention in Venezuela. Geopolitical risks are putting increasing pressure on supply chains, and against the backdrop of these growing risks, only 3% of Allianz Risk Barometer respondents consider their supply chains to be “very resilient.” In the last year alone, trade restrictions have tripled, affecting goods estimated at USD 2.7 trillion—nearly 20% of global imports, according to Allianz Trade—prompting companies to explore trends such as friendshoring and regionalization. These developments are leading to a heightened perception of risk: 29% of respondents rank business interruption among their top risks, placing it in third place, although this is down one position from the previous year.
Predictably, political risks and violence climb two positions to seventh place—the highest level ever recorded. The closely related risk of legislative and regulatory changes—which also includes trade tariffs—remains at number 4 globally, unchanged from the previous year, but with a higher number of respondents, amid concerns about rising protectionism. In fact, the paralysis of global supply chains as a result of geopolitical conflict is considered the most likely “black swan” scenario that could become reality in the next five years, according to 51% of respondents.
