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In the dynamic landscape of risk management, one threat has emerged as the undisputed cause for concern in the hospitality, leisure and tourism sectors: cyber incidents.
According to the latest Allianz Risk Barometer, based on insights from more than 3,000 risk management professionals and business leaders, cyber incidents have surged to the forefront of concerns this year, highlighting the critical need for proactive measures to ensure business continuity and resilience.
With 36 per cent of the respondents expressing concern, cyber incidents have surpassed all other risks to claim the top spot in the sectors.
This shift underscores the growing threat posed by cybercriminals, who are leveraging advanced technologies and tactics to target both IT and physical supply chains.
The recent surge in ransomware attacks has led to a 50 per cent increase in insurance claims activity compared to 2022, further emphasising the urgency of addressing cybersecurity…