Understanding Cyber Risks
In 2022, the Travelers Risk Index, an annual national survey of approximately 1,200 business leaders, found that cyber risks are the No. 1 concern among all businesses. Business leaders are concerned about suffering a security breach or someone hacking into a company's computer system, a system glitch that causes the company's computers to go down or becoming a cyber extortion/ransomware victim. Notably, more than half of the participants think it is inevitable that, at some point in the future, their business will be a victim of a cyberattack.
Despite the heightened concerns and increased threats, many businesses remain unprepared and have not even implemented basic prevention measures, such as:
- Using endpoint detection and response.
- Having an incident response plan.
- Having a post-breach team on retainer as part of an incident response plan.
- Using multifactor authentication for remote or administrative access.
Click here to see a video that summarizes the key findings from the 2022 Travelers Risk Index.
Related Resources
- Travelers Institute® Webinar: Hacked! What’s Your Plan?
- Travelers Institute® Webinar: What’s Required? Understanding the New Cybersecurity Laws Impacting U.S. Critical Infrastructure
- Travelers Institute® Webinar: The Fight Against Cyber Crime – from Prevention to Prosecution