Methodology

About the Risk & Resilience research

During January 2024, we commissioned research company Opinion Matters to survey the opinions of over 3,500 business leaders and insurance buyers of businesses based in the UK, US, Canada, Singapore, France, Germany and Spain with international operations.

Survey participants were asked about their views on insurers and insurance, as well as on four categories of risk: 

• Cyber & Technology – including the threat of disruption, failure to keep pace with changing technology, cyber risk and IP risk.
• Geopolitical – including strikes and civil disruption, changes in legislation and regulation, economic uncertainty, inflation and war & terror.
• Business – including supply chain instability, business interruption, boardroom risk, crime, reputational and employer risk and failure to comply with ESG regulations and reporting requirements.
• Environmental – including climate change and associated catastrophic risks, environmental damage, greenhouse gas emission, pandemic, food insecurity and energy transition risk.

Of the firms surveyed, there was an equal split of respondents across company sizes of: US$250,000 - US$999,999, US$1m - US$9.99m, US$10m - US$99.99m, US$100m- US$999.99m, US$1 billion plus. 

With a minimum of 50 respondents per country per industry sector, respondents represented businesses operating in:

• Healthcare & Life Sciences
• Manufacturing, Retail, Wholesale and Food & Beverage
• Commercial Property, Real Estate and Construction
• Hospitality, Entertainment and Leisure (including Gaming)
• Financial Institutions and Professional Services
• Energy and Utilities (including Mining), Marine and Warehousing
• Public Sector and Education
• Tech, Media and Telecoms
• Transportation, Logistics, Cargo and Aviation

This year’s survey was undertaken between 05.01.24 and 15.01.24. In 2021 the survey was undertaken with respondents based in the UK and US only. Between 2022 and 2024, the sample base also included respondents based in Canada and Singapore. In 2021 the survey was undertaken with respondents in the UK and US. In 2022 and 2023, the sample base also included respondents based in Canada and Singapore, and in 2024 the sample base was expanded to include respondents in France, Germany and Spain.

Contributors

Marcello Antonucci, Claims Team Leader - Cyber & Tech Risks at Beazley
Paul Bantick, Group Head of Cyber Risks, Beazley
Melissa Carmichael, Head of Cyber Risk, US, Beazley
Melissa Collins, Cyber & Technology Claims Focus Group Leader at Beazley
Alex Creswell OBE, Strategic Adviser, Beazley
Francisco Donoso, Chief Technology Officer, Beazley Security 
Katherine Heaton, Claims Focus Group Leader - Cyber Services & InfoSec Claims, Beazley
Alton Kizziah, CEO, Beazley Security 
Patricia Kocsondy, Head of Global Cyber Digital Risks, Beazley 
Jimaan Sane, London and Wholesale Growth Leader, Cyber Risks, Beazley
Christian Taube, VP Cyber Services International, Beazley Security
Bobby Venal, Labs Principal Researcher, Beazley Security
Bob Wice, Head of Underwriting Management, Cyber Risks, Beazley