Cybersecurity is top threat to business growth: Chubb

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Cybersecurity and technology disruption are the two top threats to business growth identified by a Harris Poll of 500 business leaders, commissioned by Chubb for Risk Decisions 360: Emerging Risks That Can Impede Sustainable Company Growth. 

Almost 90% of companies have or will adopt business interruption coverage for cyber incidents, natural disasters and supply chain disruptions. According to the report, over half of respondents have coverage in place and a third plan to in the next 12 months. 

Juan Luis Ortega, president, North America insurance at Chubb, said in a statement that the report provides insights into the evolving risk landscape to empower businesses to make decisions around growth. 

The report also suggests a growing interest in insurance to mitigate business risk as 89% of executives suggest they plan to expand their cyber insurance coverage. Executives who are prioritizing technology are focused on data integrity and digital transformation challenges as top concerns, especially for middle-market businesses. 

Cyber incidents, business interruption and natural disasters were all listed as top concerns as well in the Allianz Risk Barometer 2025, as previously reported by Digital Insurance. Cyber risks were in the top spot for the fourth year. Other risks identified include climate change, macroeconomic developments and political risks and violence.

Almost 80% of respondents are also implementing artificial intelligence for risk management. However, they did also express concerns related to AI such as deepfakes. Monitoring cyber incidents is the most common risk mitigation tool, according to the report.