In a recent update from Aon (NYSE:), CEO Greg Case and Anne Corona, a key executive, have laid out the current state of global business risks, emphasizing the critical nature of cyber threats. The company’s biennial survey has identified cyber attacks and data breaches as the top concern for businesses, overtaking economic challenges despite an expected regional GDP growth of 4.6% in Asia Pacific.
The survey’s findings, which were disclosed today, reveal a complex risk landscape where cyber threats take precedence due to an increase in high-profile breaches and ransomware incidents. This elevated concern comes even as Asia Pacific economies are predicted to experience robust growth, largely driven by China and India.
Anne Corona highlighted the essential role of advanced analytics in preparing for long-tail risks that are becoming increasingly prevalent in the Asia Pacific region. These risks include maintaining workforce excellence, navigating volatile markets, ensuring supply chain integrity, adapting to new regulations, and staying competitive amid rising demands for innovation. The survey noted that these challenges are currently met with limited insurance coverage options.
Furthermore, climate-related considerations are interwoven with many top risks identified in the survey. Business continuity is under threat from extreme weather events, while market trends are being reshaped by commitments to net-zero emissions leading to regulatory changes.
Aon’s survey provides a global perspective with consistently high rankings for cyber threats across different regions. The findings serve as a guide for entities to manage risks in an intricate environment, supported by insights from resources such as the Aon Newsroom.
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