Economic instability remains the foremost concern for business executives across G20 nations, according to the Executive Opinion Survey 2025, but emerging threats related to digital information and artificial intelligence are gaining prominence. Conducted by the World Economic Forum in partnership with Marsh and Zurich, the survey gathered insights from over 11,000 corporate leaders in 116 countries, revealing a shift in perceived risk priorities.
Following economic downturn, social challenges now rank second and third, with inadequate public services and weak social safety nets topping the list, followed closely by limited job prospects and rising unemployment. Inflation, which held third place last year, has slipped to fourth. The most notable development is the entry of misinformation and disinformation into the top five risks—a first for this group of decision-makers. Meanwhile, extreme weather events, previously ranked fifth, have dropped out of the top tier.
U.S. respondents identified economic contraction as their primary worry, driven by ongoing financial strain and a complex global landscape. Additional concerns include declining health and well-being, the unintended consequences of AI technologies, and disruptions to critical supply chains. Michelle Sartain, president of Marsh US and Canada, emphasized that workforce wellness is now a strategic issue affecting productivity and organizational resilience.
Andrew George, president of Marsh Specialty, pointed to AI’s role in amplifying information warfare, enabling malicious actors to spread false narratives more efficiently. As a result, cyber threats tied to rapid technological adoption are now central to boardroom discussions. Alison Martin, CEO of EMEA & Bank Distribution at Zurich, highlighted structural societal risks, noting that Europe faces a shrinking workforce and insufficient retirement savings among citizens—factors that could undermine long-term stability.
Beyond risk identification, the report underscores the growing need for tailored risk management in specialized industries. Firms in telecommunications, medical technology, and information systems face unique exposures that generic insurance products often fail to cover. In response, insurers like Intact Insurance Specialty Solutions are deploying sector-specific experts who combine technical knowledge with practical risk mitigation strategies.
These consultants work closely with clients to address operational vulnerabilities, from cyber defenses and fleet safety to regulatory compliance and ergonomic design. One case study highlighted a telecom company facing unsustainable vehicle-related losses. Instead of withdrawing coverage, the insurer implemented a structured improvement plan involving driver behavior protocols and accident analysis procedures, ultimately stabilizing the account.
Such partnerships emphasize advisory engagement over compliance checks, fostering long-term improvements in safety and insurability. Cross-sector collaboration allows risk professionals to share effective practices globally—whether wildfire preparedness tactics or cybersecurity frameworks—adapting successful models across regions.
Looking ahead, organizations that align with carriers offering deep industry insight are better positioned to navigate uncertainty. As risks grow more interconnected, the value of consultative risk control becomes increasingly clear—not merely as a protective measure, but as a driver of operational efficiency and business continuity.
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Business Leaders Elevate Social and Technology Risks Alongside Economic Concerns – Risk & Insurance
While the risk of economic downturn remains the top concern for G20 business leaders for a third consecutive year, misinformation and disinformation have entered the top five risks for the first time, according to the Executive Opinion Survey 2025. n nThe report, produced by the World Economic Forum in partnership with Marsh and Zurich, is based on a survey of more than 11,000 business leaders from 116 countries. n nRisk Priorities Shift as Social and Technology Threats Emerge n nThe 2025 survey reveals a notable reshuffling of corporate risk priorities. After economic downturn, social risks now occupy the second and third positions, with insufficient public services and social protections ranking second, followed by lack of economic opportunity and unemployment in third place. Inflation, which held the third spot in 2024, dropped to fourth this year. n nThe most striking change, according to the report, comes from technological threats related to misinformation and disinformation, which claimed fifth place. This marks the first time such technology-driven risks have cracked the top five for G20 business leaders. Meanwhile, extreme weather events, which ranked fifth in 2024, fell out of the top tier entirely, the report noted. n nAmong U.S. respondents, the top risk concerns were: n nEconomic downturn. n nDecline in health and wellbeing. n nMisinformation and disinformation. n nAdverse outcomes of artificial intelligence technologies. n nDisruptions to a systematically important supply chain. n n“The potential impact of an economic downturn remains the top concern for US businesses, driven by persistent financial pressures and an increasingly complex global environment,” said Michelle Sartain, Marsh’s president US and Canada. “Equally significant is the emergence of declining personal health and well-being as a critical risk, given its profound impact on workforce productivity, talent retention, and the overall resilience of organizations.” n nAI and Social Fragmentation Challenge Boardrooms n nThe rise of AI has amplified concerns about information warfare and its cascading effects. n n“With the rise of AI, the proliferation of misinformation and disinformation is enabling bad actors to operate more broadly,” said Andrew George, president of Marsh Specialty. “As such, the challenges posed by the rapid adoption of AI and associated cyber threats now top boardroom agendas.” n nThe elevation of social risks signals mounting concerns about societal stability. n nAlison Martin, CEO of EMEA & Bank Distribution at Zurich, highlighted the severity of the demographic challenge: “In Europe today, there are fewer than three working-age adults for every pensioner, and over a third of EU citizens aren’t saving enough for retirement. These gaps threaten both workforce wellbeing and broader social stability.” n nView the more about the survey finding here. & n nThe R&I Editorial Team can be reached at [email protected]. n nIn today’s increasingly complex business environment, companies operating in specialized sectors face unique risk challenges that generic insurance solutions often fail to address. From telecommunications networks vulnerable to cyber threats to medical technology manufacturers navigating product liability concerns, each industry requires tailored risk management strategies. This reality has prompted a shift in how insurance carriers approach risk control, with many now deploying specialists who bring deep industry knowledge to their client partnerships. n n“Our goal is simple,” said Craig Collins, Head of Portfolio Quality Assessments and Risk Control, U.S. for Intact Insurance Specialty Solutions. “Get out there. Be seen. Build trust. And deliver the kind of service that makes brokers want to work with us again and again.” n nServing Diverse Economic Sectors n nThe modern economy demands insurance partners who understand the nuances of specialized industries. Telecommunications companies managing vast fleets and network infrastructure face different exposures than electronics manufacturers dealing with supply chain disruptions and product safety requirements. Medical technology firms navigate regulatory compliance while information technology companies grapple with evolving cyber threats. n nThis diversity of risk requires more than traditional insurance coverage. It demands consultative partnerships where risk control professionals understand not just the theory of risk management, but the practical realities of how businesses operate within their specific sectors. Companies need advisors who can identify vulnerabilities unique to their industry and recommend solutions that align with operational constraints. n nThe evolution of specialized risk control reflects this need. What once operated as separate, siloed units supporting individual industries has transformed into integrated teams that maintain deep expertise while sharing knowledge across sectors. This approach allows risk control professionals to address the increasingly interconnected nature of modern business risks, where a manufacturing company might also face significant cyber exposures or a technology firm might need fleet safety management. n nThe Advantage of Industry-Specific Expertise n nWhen risk control professionals bring real-world experience from the industries they serve, the dynamic changes from inspection to partnership. These specialists arrive with credibility and fluency in technical areas, allowing them to quickly identify critical exposures and offer practical solutions. n nRather than delivering generic recommendations, industry-experienced consultants can prioritize interventions that will have the greatest impact on reducing claims. They understand which risks are inherent to the business model and which can be effectively mitigated without disrupting operations. This targeted approach helps companies make meaningful improvements without becoming overwhelmed by compliance requirements. n nThe benefits extend beyond individual client engagements. Risk control teams that collaborate globally can share insights on emerging threats and proven solutions. Cross-border knowledge sharing brings new tools, case studies, and real-world learnings into every client interaction. When a wildfire mitigation strategy proves effective in one region, or a cyber risk evaluation framework delivers results in another market, these insights can be adapted and applied across the portfolio. n nFor brokers, this specialized expertise translates into stronger renewal packages and improved client retention. When risk control professionals help clients make operational improvements that reduce future claims, it strengthens the entire insurance relationship. The value extends throughout the policy year, not just at the point of quote, creating ongoing touchpoints that reinforce the partnership. n nReal-World Impact: Case Studies in Action n nThe true measure of specialized risk control lies in its ability to transform challenging situations into success stories. Consider a large telecommunications company that faced mounting fleet losses, with claim frequency rising and severity spiking to the point where its future insurability was in question. The company risked losing access to the coverage its operations depended on. n nInstead of non-renewing the client, Intact’s Risk Control team implemented a focused intervention plan. They collaborated with the client’s leadership team to identify root causes of loss activity, then developed a structured service plan to strengthen fleet management practices. This included creating standardized operating procedures for driver behavior monitoring and accident investigation, all supported by consistent follow-up and ongoing risk control engagement. n n“This wasn’t a quick fix. It was a strategic, hands-on effort that delivered a measurable impact,” Collins explained. The situation stabilized, losses declined, and the client remained in the portfolio, stronger than before. n nThis case exemplifies how specialized risk control creates value for all stakeholders. The client avoided a potential business disruption, the broker retained an important account, and the carrier transformed a problematic risk into a sustainable partnership. The success stemmed from the risk control team’s ability to engage rather than investigate, positioning themselves as advisors who show up, stay involved, and help clients improve. n nSimilar transformations occur across various specialized sectors. Risk control consultants trained in multiple segments can support accounts with overlapping exposures, addressing everything from cyber risk evaluation and ergonomic program management to fire protection specification consultation and network security evaluations. This flexibility allows teams to meet regional demands without sacrificing expertise, ensuring that clients receive relevant, actionable guidance regardless of their industry or location. n nLooking Forward n nAs businesses continue to navigate evolving risks, the demand for specialized risk control expertise will only intensify. Companies that partner with carriers offering deep industry knowledge and consultative risk management services position themselves to not just survive challenges but to thrive despite them. The key lies in finding insurance partners who view risk control not as a compliance exercise but as a strategic tool for business improvement. n nFor organizations ready to leverage specialized risk control expertise, the benefits can include reduced claim frequency, improved operational efficiency, and stronger insurability over time. “The team’s evolution reflects that mindset,” Collins said. “By developing common frameworks across specialties, the team can flex to meet regional demands without losing expertise.” n nTo learn more, visit https://www.intactspecialty.com. n nThis article is provided for general informational purposes only and does not constitute and is not intended to take the place of legal or risk management advice. Readers should consult their own legal counsel or other representatives for any such advice. Intact hereby disclaims any and all liability arising out of the information contained herein. n nIntact Insurance Specialty Solutions is a marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC. Our solutions are backed by the financial strength of Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation (TSX:IFC), rated A.M. BEST A+ | FITCH AA | MOODY’S A1. n nThis article was produced by the R&I Brand Studio, a unit of the advertising department of Risk & Insurance, in collaboration with Intact Insurance Specialty Solutions. The editorial staff of Risk & Insurance had no role in its preparation. n nIntact Insurance Specialty Solutions offers a broad range of specialty insurance products through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment and providing distinct products and tailored coverages and services. Targeted solutions include group accident and health; commercial and contract surety; entertainment; environmental; excess property; financial institutions; financial services; inland marine; management liability; ocean marine; technology; trade credit and tuition refund. Intact Insurance Specialty Solutions is backed by the financial strength of Atlantic Specialty Insurance Company (Rated A+ by AM Best), a subsidiary of Intact Financial Corporation.