Regulatory change, reputational damage and failure to retain talent are among the top 10 threats identified by risk officers in the latest Aon Risk Solutions Global Risk Management Survey.

Asia-Pacific is the only region to rank weather and natural disasters in its top 10, which Aon says reflects flooding experiences in Thailand and Australia in 2011.

Economic slowdown tops the overall list among CROs, CFOs and risk managers at 1415 organisations surveyed for the biennial study.

Next up are regulatory/legislative changes and increasing competition.

Political risk has made the top 10 for the first time, Aon says, while weather and natural disaster risk are expected to figure there in the next study.

Underrated risks identified by Aon include cyber crime, counterparty risk, loss of intellectual property and data, and issues with social media.

Business interruption is seventh on the global list, which reflects the Japan earthquake and floods in Thailand and Australia, Aon says.