Brexit creeps up UK threat managers’ fear record – survey

LONDON (Reuters) – Risk specialists in British companies are extra apprehensive about Brexit and different regulatory change than they had been a yr in the past, although cyber assaults stay the largest concern, a survey confirmed on Tuesday.

Protesters wave the EU and Union flags outdoors the Palace of Westminster, London, Britain, December 20, 2017. REUTERS/Peter Nicholls

The threat of modifications in laws and regulation, together with considerations over Brexit, new commerce boundaries and protectionism, climbed three locations from a yr earlier to develop into the second most vital concern for UK companies, in line with the UK a part of a global survey by German insurer Allianz (ALVG.DE)

“Companies must gear up to cope with the risk of sudden political and legal shocks, such as the lack of clarity over UK Plc’s future relationship with the European Union,” stated Brian Kirwan, UK Chief Executive of Allianz Global Corporate & Specialty.

Cyber incidents had been once more the highest fear for UK companies, together with the potential for “cyber hurricanes”, the place hackers disrupt massive numbers of corporations via shared web infrastructure.

Business interruption was thought of the first threat globally within the Allianz survey of greater than 1,900 threat specialists from 80 international locations.

Reporting by Carolyn Cohn; Editing by David Goodman

Our Standards:The Thomson Reuters Trust Principles.

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