AXA Survey Rates Pandemics As #1 Business Threat
According to a new study published by AXA, pandemics are the top concern for insurance professionals this year as the COVID-19 crisis roils the industry worldwide, reports Reuters. Infectious diseases and pandemics were ranked as the most significant risks to society over the next five to 10 years, a reversal from last year when climate change was considered the biggest concern. AXA’s study found that 56 percent of the respondents consider pandemics one of the top five emerging risks, up from 23 percent in 2019.
Climate change is now the second biggest worry overall, but the views vary geographically, as it remains the top priority in Europe but falls to the third place in the United States and Asia. AXA CEO Thomas Buberl said the reduced emphasis on climate change “is concerning, especially among our American and Asian respondents, as we believe that shorter-term issues around the pandemic should not completely overshadow longer-term threats.”