Business interruption and cyber incidents loom large as the top concerns for automotive manufacturers in 2024, as revealed by the Allianz Risk Barometer. With insights gathered from over 3 000 risk management professionals and industry leaders, this report underscores the imperative act of addressing these risks to ensure operational continuity and resilience against potential disruptions.
In response to these challenges, companies are prioritising actions such as developing alternative suppliers, enhancing business continuity management and identifying supply chain bottlenecks. These proactive measures aim to mitigate risks and bolster resilience in the face of evolving threats. Santho Mohapeloa, a cyber insurance expert at Allianz Commercial, warns of the evolving tactics employed by cyber criminals, emphasising the critical need for early detection tools and skilled professionals to combat emerging threats effectively.