Risk Managers declare Cyber Security Top Business Risk for 2026

Cyber incidents are the top global business risk in 2026, according to the 3,338 risk management experts recently surveyed by insurer Allianz. 

It’s the fifth consecutive year that cyber incidents have dominated risk management concerns.  According to the latest Allianz Risk Barometer, 42% of surveyed organisations place cyber at the top of their risk agenda, outpacing all other threats by a substantial margin. And that’s across most major geographies and companies of all sizes. 

Digital dependency, geopolitical instability, and a rapidly evolving threat landscape are colliding to drive the threat level higher. 

Digital Reliance Meets Escalating Threats 

Businesses have never been more reliant on digital systems, cloud platforms, and third‑party providers. While large organisations have made meaningful progress in detection and response capabilities, progress doesn’t equal safety. The corporate attack surface continues to expand, and adversaries are evolving just as quickly. 

Two forces are accelerating this shift: 

• Third‑party concentration risk: Organisations increasingly depend on a small number of cloud, SaaS, and data‑processing providers. Outages or breaches at these providers can ripple across entire industries. 

• AI‑enabled cybercrime: Artificial intelligence is now a force multiplier for attackers, enabling faster, more automated, and more sophisticated campaigns. 

The result is a threat environment where even well‑prepared organisations face heightened exposure. 

Costly to Succeed – Costlier to Fail  

The business community is acutely aware of the need to strengthen cyber resilience. Nearly 90% of respondents to the Allianz survey expect to increase their investment in cyber loss prevention, with almost half planning “high” levels of investment. This reflects a clear understanding that the cost of prevention is high, but the cost of failure is far higher. 

A cyber incident can trigger: 

• Major operational disruption 

• Supply chain paralysis 

• Regulatory penalties 

• Legal exposure 

• Long‑term reputational damage 

Ransomware: the Most Expensive Threat 

Ransomware remains the most financially damaging category of cyber incidents. Allianz’s claims data shows that ransomware accounted for 60% of the value of large cyber claims in early 2025. Data theft is also rising sharply, appearing in 40% of major claims during the same period. 

The ransomware ecosystem has matured into a professionalised criminal industry. Initial access brokers sell entry points into corporate networks, while affiliates execute attacks and negotiate payments. Attackers exploit weak links - supply chains, employees, outdated systems - and leverage business interruption to maximise pressure. 

Supply Chain Shockwaves Normalised 

One of the most striking trends of the past year is the scale of supply chain disruption caused by cyber incidents. A single attack can immobilise thousands of interconnected organisations. 

A notable example is the ransomware attack that halted production at Jaguar Land Rover. The incident affected more than 5,000 organisations and contributed to a measurable decline in UK manufacturing output and GDP. It illustrates a harsh reality: even companies not directly targeted can suffer severe consequences when a key supplier or customer is compromised. 

Outages and Human Error 

Not all disruptions stem from malicious activity. Technical failures, misconfigurations, and human error are increasingly contributing to major outages. In 2024, non‑attack incidents accounted for a record 28% of large cyber claims. With most companies relying heavily on cloud services - and with three providers controlling the majority of global cloud infrastructure - the systemic risk is clear. 

Bumpier Road Ahead 

Cyber risk isn’t simply persisting; it’s intensifying. As digital ecosystems grow more complex and attackers adopt AI‑driven tactics, organisations must rethink resilience, diversify dependencies, and strengthen governance.  

The message from the 2026 Allianz Risk Barometer is unmistakable: cyber is no longer just an IT issue – it’s the defining business risk of the decade. 

MFT: a Strategic Shield  

One of the most powerful tools in the cyber security arsenal is Managed File Transfer (MFT). Unlike ad hoc file sharing methods such as email attachments, cloud drives, or FTP, leading MFTs such as GoAnywhere MFT provide a secure, auditable, and policy-driven framework for exchanging sensitive data. 

End-to-End Encryption: MFT platforms encrypt data both in transit and at rest, ensuring that even if intercepted, the contents remain unreadable to unauthorised persons. 

Access Control and Authentication: Granular permissions, multi-factor authentication, and role-based access prevent unauthorised users from accessing or manipulating files. 

Automated Workflows and Monitoring: MFT systems can automate file transfers with built-in logging and alerts, reducing human error and enabling rapid detection of anomalies. 

Compliance and Audit Trails: MFT solutions often include detailed audit logs and compliance reporting features, helping organisations meet regulatory requirements and demonstrate due diligence in the event of an incident. 

Reduced Shadow IT: By centralising file transfers within a secure platform, MFT reduces the risk of employees using unapproved tools that bypass corporate security controls. 

Here to Help 

At Generic Systems Australia, we’re Australia and New Zealand’s local experts in MFT, helping protect their data and boost their efficiency. 

If you’d like to discuss how we can deliver these advantages to your organisation, please feel welcome to get in touch with our Business Manager, Bradley Copson. He’s always happy to have an obligation-free chat and explain how affordably and quickly we can help you move up to heightened cyber security and productivity.