2022 Travelers Risk Index: Cyber
In the ninth installment of the Travelers Risk Index survey, over 1,200 business leaders said they believe the business world is riskier than it was a year ago. Cyber, however, was still the single biggest business concern. Notably, 57% of business leaders think it is inevitable that, at some point in the future, their company/organization will be the victim of a cyberattack. Additionally, 80% of business leaders reported difficulty keeping up with the evolving cyber landscape, including the latest information and developments.
Despite increased worry about broad economic uncertainty, fluctuations in oil/energy costs, supply chain risks and the ability to attract and retain talent, cyber risks remained the No. 1 overall business concern.
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We asked 1,200 business leaders: What is your biggest concern?
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Cyber Risks are the #1 overall concern.
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Top 3 Cyber Concerns?
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1 Security Breach, 2 System Glitch, 3 Ransomware Victim
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Over 25% of businesses have been a cyber victim
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Half of those in the past year
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71% of affected businesses are victims of multiple attacks.
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“These events are not random. Cyber attacks target vulnerable companies. Tim Francis, Travelers Enterprise Cyber Lead”
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Most businesses believe they are prepared for a cyber event.
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Yet most do not:
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Use Endpoint Detection and Response
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Have an Incident Response Plan
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Use Multifactor Authentication
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Cyber attacks can have costly and serious consequences.
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Help protect your company against these risks.
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The Travelers logo with red umbrella. Text, Learn more travelers.com/cyber
Travelers Casualty and Surety Company of America and its property casualty affiliates. One Tower Square, Hartford, CT 06183. This material does not amend, or otherwise affect, the provisions of any insurance policy issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy provisions, and any applicable law.
The Travelers Risk Index provides an annual snapshot of risk viewpoints from companies of various sizes (small, medium, large) and industries, including transportation, healthcare, construction, banking and financial services, real estate, manufacturing, technology, professional services, wholesalers, retail and nonprofits.
