Citing economic pressures and global trade concerns as challenges, risk managers are reporting their lowest level of risk readiness in 12 years, according to Aon’s 2019 Global Risk Management Survey.

The top risk cited by respondents in the 2019 survey was the economic slowdown, followed by damage to reputation/brand in second place, which was attributed to the potential for severe consequences when corporate adversities occur given the 24/7 news cycle on social media platforms.

An increase in protectionist international trade policies, which include increasing regulatory activity and geopolitical tensions, jumped to the third slot from the 38th place in the previous survey.