Risk Readiness in 2026: What Every Business Owner Should Be Paying Attention To
Running a business today means navigating a growing list of risks that extend far beyond property damage and liability claims. Let's talk about it.
Jenny Holly Hansen
By Jenny Holly Hansen | Langley News | July 16, 2026
Running a business today means navigating a growing list of risks that extend far beyond property damage and liability claims. From cyberattacks and supply chain disruptions to AI adoption and severe weather, today's business owners face a more complex operating environment than ever before.
A recent report from Chubb, based on research conducted with the National Center for the Middle Market (NCMM), surveyed 1,000 executives from companies generating between $10 million and $1 billion in annual revenue. While many organizations recognize the challenges ahead, the findings reveal that preparedness is still lagging in several critical areas.
Cyber Risk Is Still the Biggest Concern
Across nearly every industry surveyed, cybersecurity ranked among the top three business risks—and in many sectors, it was the number one concern. Despite this, cyber insurance adoption remains surprisingly low:
- Financial institutions: 39%
- Technology companies: 42%
- Educational institutions: 44%
- Business services: 46%
- Manufacturing: 34%
- Construction: 34%
This highlights a significant protection gap. As ransomware, data breaches, phishing attacks, and business email compromise continue to evolve, many businesses remain financially exposed.
Supply Chain Risks Aren't Going Away
Supply chain disruption ranked as one of the top risks across manufacturing, construction, retail, wholesale, healthcare, food production, and technology businesses.
Yet many organizations still have not explored insurance solutions designed to protect against supply chain interruptions. Examples include:
- Manufacturing: 51% are considering supply chain insurance.
- Food industry: 55%
- Technology: 48%
- Wholesale: 43%
- Financial institutions: only 34%
The lesson is clear: businesses are becoming increasingly dependent on suppliers around the world, making disruption a financial risk that deserves more attention.
AI Is Creating Opportunity—And New Exposures
Artificial intelligence is rapidly becoming part of everyday business operations. Companies are using AI to:
- Improve operational efficiency
- Reduce operating costs
- Enhance customer experience
- Improve decision making
- Automate routine tasks
- Analyze large volumes of data
However, business leaders also expressed major concerns, including:
- Data privacy
- Cybersecurity
- Accuracy and reliability of AI outputs
- High implementation costs
- Lack of internal AI expertise
- Employee resistance to change
As AI becomes more deeply integrated into business operations, organizations should ensure that governance, cybersecurity, and professional liability considerations evolve alongside the technology.
Business Continuity Planning Is Still Being Overlooked
One of the report's most surprising findings was how few companies work with outside experts to prepare for major disruptions.
Only a minority of businesses reported engaging third parties for business continuity planning, while resilience services were even less common in many sectors—often below 15%.
Having insurance is important, but insurance alone cannot keep a business operating after a cyberattack, wildfire, flood, supplier failure, or extended power outage. Business continuity planning has become just as important as the insurance policy itself.
Climate and Extreme Weather Continue to Rise
Natural catastrophes continue to grow as a business risk. While many financial institutions reported feeling prepared for severe weather (63%), preparedness varied significantly across other industries. Construction businesses, for example, reported only 54% feeling well prepared for supply chain disruptions, while real estate companies identified natural catastrophes as one of their top three risks. Retailers also reported that nearly one in five experienced impacts from a natural disaster during 2024.
Extreme weather is no longer just a concern for coastal or high-risk regions—it is becoming a business continuity issue across virtually every industry.
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The Bottom Line
The Chubb report paints a clear picture: business leaders understand that risks are changing faster than ever, but many organizations are still catching up when it comes to preparedness.
Cybersecurity, AI, supply chains, regulatory compliance, business continuity, and severe weather are no longer niche concerns—they're core business risks that deserve regular review.
The businesses that thrive over the next decade won't necessarily be those that avoid every challenge, but those that prepare for them before they happen.
Call to Action: As your business evolves, make sure your insurance evolves with it—review your coverage regularly to ensure you're protected against today's emerging risks, not yesterday's.
TAGS: #Jenny Holly Hansen #Protect Your Business #Community Impact #Langley Connect #Surrey Connect #North Van Connect #Connect Network #Cyber Attacks #Supply Chain Disruptions #AI Adoption #Business Continuity Planning
Let’s Keep Talking: Jenny Holly Hansen, Independent Insurance Broker since 2006. Phone: 604-317-6755 Email: hello@jennyhollyhansen.ca Website: jennyhollyhansen.ca LinkedIn https://www.linkedin.com/in/jenny-holly-hansen-365b691b/.