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Video: Risk Insights - understanding the interconnected risk landscape

Aviva's interim managing director of commercial insurance, Nick Major, discusses four of the top ten risks facing UK businesses as outlined on Aviva's Risk Insights Report: business and supply chain interruption, changes in legislation and regulation, including Brexit, cyber security and cyber incidents and loss of reputation and brand value.

In a live webinar session panellists discussed findings from Aviva’s Risk Insights Report. According to UK business leaders, Brexit and changes to legislation and regulation is the second biggest risk they face. The report found 35% of business leaders see Brexit as one of the top five risks facing their business currently.

Business operations and supply chains saw significant disruption across 2020 due to the Covid-19 pandemic and was identified as the third largest risk, with nearly a third (32%) of business leaders placing it in their top five risks. A quarter (26%) reported that they were unable to conduct any business operations for at least some portion of 2020.

As businesses and industries continue to see a shift towards digitalisation, cyber security risks are evolving. The report identified one in ten business leaders had been affected by a data breach or cyber attack in the past 12 months, with this figure rising to one in five for corporates.

Almost one third of business leaders indicated damage to their brand’s reputation as one of their top five risk exposures. 

 

Download the report here: Aviva Risk Insights Report 

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