Gallagher Survey Finds Business Owners Incorporating Risk Management Into Growth Decisions
Nearly all U.S. business owners—94%—are concerned that their insurance coverage may not protect them against a specific event or loss, according to Gallagher’s fourth annual Business Owners Survey, noting that “the psychological burden of running a business remains high”.
The survey of 1,000 business owners found that concerns about insurance protection, artificial intelligence, cyber threats, supply chain disruptions, and severe weather are driving a broader shift toward proactive risk management. Gallagher reported that business owners are increasingly incorporating risk considerations into operational, investment, and growth decisions rather than treating risk management as a separate function.
The findings also suggest that the pressures facing business owners remain significant. Gallagher reported that a record 76% of respondents have lost sleep over business-related concerns.
AI Seen as Both a Risk and an Opportunity
Artificial intelligence ranked among the leading concerns identified by business owners, with 89% reporting they are at least somewhat concerned about AI’s impact on their business.
At the same time, many respondents view AI as a business opportunity. Nearly half (47%) said they plan to increase investment in AI this year.
Business owners also expressed support for greater oversight of the technology. According to the survey, 95% favor stronger AI regulation, while 94% support improved protections against misuse.
Among businesses investing in AI, 38% said they are using the technology for risk assessment and analysis, while 36% are applying it to risk mitigation efforts within their insurance and risk management programs.
Cyber Risks Remain a Core Concern
Cyber threats continue to weigh heavily on business owners.
The survey found that 68% are concerned that cyberattacks will affect their business. In response, 44% said they would like to acquire or expand insurance coverage for cyber-related risks.
Gallagher noted that cyber risk has evolved from an emerging threat into a core operational vulnerability for many organizations.
Supply Chain Disruptions Continue to Challenge Businesses
Business owners also remain concerned about trade uncertainty and supply chain disruptions.
Nearly two-thirds of respondents (63%) said they are concerned that supply chain disruptions will affect their business in 2026. To address those concerns, 61% reported establishing contingency suppliers, reflecting a greater emphasis on operational redundancy and business continuity planning.
“What we’re seeing with business owners is a meaningful shift toward treating risk management as a business consideration that informs operations, investments and growth,” said J. Patrick Gallagher, Jr., Chairman and CEO. “This mindset can help businesses build resilience in an increasingly complex risk environment.”
Weather Concerns Rise While Coverage Gaps Persist
The survey found growing concern about weather-related risks, particularly flooding.
More than half of business owners (53%) identified flooding as one of the top weather-related threats to their business, including both direct impacts and disruptions affecting suppliers. That figure increased from 35% in the 2025 survey.
Despite rising concern, only 30% of respondents said they carry flood insurance, unchanged from last year.
Business owners also cited concern about severe storms involving heavy rainfall, hail, or damaging winds (41%), earthquakes (35%), and extreme heat (30%).
The survey found that 27% of business owners have rebuilt or reinforced their properties with weather-resilient materials, or intend to do so after filing a weather-related claim.
“Despite rising exposure, many businesses remain underinsured, widening the gap between risk and protection,” Gallagher said. “Working with the right insurance and risk management partners to identify and mitigate exposures can help businesses better protect operations and strengthen resilience.”
The full 2026 Survey of Business Owners can be accessed on the Gallagher website.
