Cyberattacks have dropped the list of the biggest concerns for global companies compared to previous years, but are still the biggest risk for US companies, according to a report from the World Economic Forum released on Thursday.
In the middle of a year that has seen a global pandemic, the spread of infectious diseases is a major concern for executives in the US and companies globally, jumping 28 places to the second most recurring risk and appearing among the top 10 in all regions except South Asia, says the report.
Unemployment and the spread of infectious diseases were the two main risks mentioned by business leaders globally, with fiscal crisis – last year's biggest concern ̵
The study was developed in collaboration with Marsh & McLennan Cos Inc., Zurich Insurance Group and SK Group.
Although the biggest risks for global companies are mostly related to economics, climate-related risks are causing greater concern this year, with natural disasters, extreme weather events and climate change adaptation all rising on the list, the WEF said in a statement accompanying the report.
The COVID-19 crisis has highlighted the importance of business resilience to cyber risks, said John Doyle, President and CEO of Marsh LLC in the statement.
“Just as concerns about the economy and climate will require companies to focus on business plans, a greater dependence on digital infrastructure will mean a marked increase in exposures to cyber risk. To optimize recovery, organizations need to build greater preparedness in their business models to be more resilient to future disruptions, Doyle said. Catalog