The top 10 global business risks in 2022

With the events of the last years still heavily impacting the way in which we live and how businesses operate, the top global risks for businesses in 2022 will come as no surprise.

The Allianz Risk Barometer 2022 – top global business risks

The Allianz Risk Barometer 2022, has rated the top three threats to business as cyber incidents, business interruption, followed by natural catastrophes.

The other significant risks that round out the 2022 risk barometer top ten include:

  • Pandemic outbreak,
  • Changes in legislation and regulation,
  • Climate change,
  • Fire /explosion,
  • Market developments,
  • Shortage of skilled workforce,
  • Macroeconomic developments.

When looking at these risks, how prepared do you think your business is if one of these were to affect you? What measures do you have in place to reduce the potential impact on your strategic objectives?

The advice and Insurance solutions recommended by a specialist insurance broker can be a highly effective way to mitigate risk.

Using insurance to transfer risk

Insurance can be a highly effective method to address and mitigate the top ten business risks featured on the Allianz Risk Barometer for 2022.

It’s evident that many of the risks and challenges posing a threat to businesses in 2022 are somewhat beyond our control. What you can control however, is having an insurance program that actively mitigates risks to your business wherever possible, allowing you to better handle adverse events and absorb losses in a claim.

The recent NSW and QLD storm catastrophe is a prime example of this, where homes and businesses suffered millions of dollars’ worth of damage. Without suitable insurance in place, many business owners would not be able to afford to repair or replace damage to their office or retail space, stock and equipment, the list goes on.

A specialist insurance broker can ensure your business has a highly targeted, personalised insurance strategy, providing specialist advice and placement solutions that align to manage your risk exposures.

What can you do to protect your business against the top three risks in 2022?



A risk not covered in traditional business insurance policies, many businesses overlook the inclusion of Cyber Insurance in their insurance program. With cyber incidents becoming increasingly commonplace and now ranking as the third highest risk to businesses, Cyber Insurance is essential to any business that uses or relies on the internet in any capacity.


A Cyber Insurance policy can provide:

  • Financial compensation to recoup costs that result from a security breach – including business interruption, IT recovery costs and regulatory fines – which can amount to $1.8 million.
  • Compensation for clients and customers who suffer financially or emotionally as a result of stolen data.
  • Cover for legal representation and costs that incorporate forensic and legal counsel.
  • Access to the services of professional consultants to assist in repairing damage to your company’s brand and reputation following a cyber-incident.


Natural disasters can occur at any given locations around the world. With the most recent catastrophes including earthquakes late last year and more recently the NSW & QLD Floods which have left some towns and businesses at a total loss.

A Business Pack Insurance policy can be effective in protecting your business from the damage inflicted by business interruption, fire / explosions and volatile weather.

A Business Pack policy can protect:

  • Your assets such as building, stock, plant and office equipment
  • The continuing financial viability of your business should you have an insurable loss and,
  • Your legal liability for personal injury and/or damage to property caused by a negligent act of an employee whilst engaged in work activity.

If you are unsure about your insurance coverage, or would like professional insurance advice to help address the Allianz Risk Barometer Top 10 Business Risks of 2022, contact one of Whitbread’s business insurance specialists.


T: 1300 424 627




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This article is not intended to be personal advice and you should not rely on it as a substitute for any form of personal advice. Please contact Whitbread Associates Pty Ltd ABN 69 005 490 228 License Number: 229092 trading as Whitbread Insurance Brokers for further information or refer to our website.

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