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Jan 14, 2026
Expert risk article | Allianz Risk Barometer 2026 - Political risks and violence
Political risks and violence rises to its highest ever position globally. Unsurprisingly, war is the peril companies are most worried about.
Natural catastrophes drops to #5 globally, driven by factors such as a quieter hurricane season during 2025. However, insured losses caused by cat events still hit US$100bn for the sixth year in a row.
Cyber incidents is the top global risk for 2026 and by a higher margin than ever before – 10% ahead of the closely-linked peril of artificial intelligence (AI).
Business interruption and supply chain disruption drops to #3 from #2 but this peril remains a significant concern given it can be a consequence of other risks in the global top 10.
Business interruption impact, such as supply chain bottlenecks and disruption of logistics due to extreme weather events, is the main climate-related business concern for respondents.
Following another strong year for equity and M&A markets, businesses appear slightly more relaxed about market risks, with this risk dropping from #8 to #10 year-on-year.
