We have the duty and privilege of guiding clients through many of their most pressing business challenges. In an ever-changing risk landscape, these issues – and what can be done to mitigate the risk – is valuable, actionable information for any business leader. In no particular order, these three risks top our list this year.
1 | Cyber Risk
Unlike any other type of insurable risk, cyber risk has agency – harden your defenses and a cyber attacker will find another weakness. The organizations that survive these battles have fostered a proactive cyber security culture, with well-defined policies and up-to-date technology. Preparing for cyber risk in advance allows firms to react quickly as new threats emerge.
However, while business leaders are well versed in the cyber threats, less than 20% carry insurance to protect themselves. Influenced by myths and misinformation, they mistakenly believe they’re too small (30%) or too secure (39%) to justify the expense. Many organizations don’t survive a cyber attack, and with more than 40% of cyber events targeting small businesses, these misconceptions leave their business vulnerable to significant economic and reputational harms – if not existential risk.
2 | International Economic Risk
At home and abroad, businesses are rushing into emerging markets in Latin America and elsewhere, incentivized by a potential windfall. But businesses need to be prepared for the fallout, because they are often the unintended victims of abrupt regulatory changes, supply chain disruptions, and overinvestment bubbles.
Meanwhile, geopolitically motivated cyber-attacks are sowing disruption around critical infrastructure, energy grids, and transportation networks. Intending to create the highest level of chaos possible for their adversaries, these attacks have the additional consequence of disrupting business productivity.
It’s unfortunate, but business insurance is chronically misunderstood. In 2025 nearly 80% of small businesses were reported to be underinsured (even more than in 2023) leaving them vulnerable to all kinds of property and casualty risks. At the same time, more of these businesses are reporting revenue growth – meaning it’s imperative that their policies are reviewed to ensure there’s no shortfall in coverage for potential losses.
Often, business owners worry most about the things they have the least control over, like inflation or taxes. But insurance coverage gaps are preventable. When the owner and broker develop a trusted partnership, reviewing changes to the business, changes in the insurance markets and the total cost of risk (TCOR) every year, the business can thrive knowing they’ve built operational resilience into their business development playbook .