World Economic Forum’s 2017 Executive Opinion Survey
Business leaders across the insurance industry are signalling rising concern about non-economic risks such as cyber and politics, according to the World Economic Forum’s 2017 Executive Opinion Survey.
Over 12,400 risk executives across 136 countries were asked to identify the global risks of highest concern for doing business in their country.
In the medium term businesses in MENA are focused on economic risks including asset bubbles, energy price shock and deflation. However, disruptive and emerging risks like large scale cyber-attacks, data fraud and geopolitical events including terrorist attacks are growing in concern amongst executives in the UAE.
Steve Lundin, Chief Executive Officer, Marsh MENA, said “the potential disruption a large scale cyber-attack or data fraud could have on an organisation is becoming an increasing concern as are the rise of geopolitical events. These disruptive risks coupled with economic concerns emphasise the greater need for businesses to scrutinise their business resiliency and to ensure they have the right risk management and mitigation strategies in place”