During January 2025, 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, and energy transition risk.
Of the firms surveyed there was a split across company sizes in each territory of: US$/CA$/SG$/GB£/EUR€ - 250,000 - 999,999 / 1m - 9.99m / 10m - 99.99m / 100m - 999.99m / 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 06.01.25 and 17.01.25. In 2021 the survey was undertaken with respondents based in the UK and US only. 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.
Opinion Matters abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Opinion Matters is also a member of the British Polling Council.
Contributors to this report include:
Marcello Antonucci, Claims Leader – Cyber & Tech Claims, Beazley
Lawrence Brown, Partner and Head of Cross-Border Data Protection Group, Simmons & Simmons LLP
Melissa Carmichael, Head of US Cyber Risks, Beazley
Sandra Cole, Cyber Claims Product Specialist, Beazley
Melissa Collins, Claims Focus Group Leader – Third Party Liability Cyber & Tech, Beazley
Alex Creswell OBE, Strategic Adviser – Cyber to Beazley
Francisco Donoso, Chief Product and Technology Officer at Beazley Security
Katherine Heaton, Claims Focus Group Leader, Cyber Services & Info Sec Claims
Letoyia Horton, Claims Focus Group Leader – Employment Practices Liability, Beazley
Alton Kizziah, CEO, Beazley Security
Patricia Koscondy, Head of Global Cyber Digital Risks, Beazley
Alessandro Lezzi, Group Head of Cyber, Beazley
Craig Linton, Head of US Underwriting Management at Beazley
Lucien Mounier, Head of Europe - Cyber Risks, Beazley
Atul Roy, MD, Head of Telecoms at Cordiant
Jimaan Sane, London Wholesale and Europe Growth Leader, Beazley
Mark Singer, Claims Focus Group Leader, Cyber Claims, Beazley
Christian Taube, Vice President Cyber Services International, Beazley Security
Bobby Venal, Principal Security Researcher US, Beazley Security
Sydonie Williams, Head of International Cyber Risks at Beazley