Cyber Risks Lead 2024 Business Concerns in Travelers Survey

For 11 years, Travelers has posted an annual Risk Index. The Risk Index is a survey that looks at the top concerns of U.S. businesses, and how they manage them.

Their 2024 survey takes a deep dive into the top concerns of U.S. business leaders from small, medium and large businesses across a wide range of industries.

Some of these risks involve well-known issues, like rising medical costs, broad economic uncertainty, and the ability to attract and retain talent.

Cyber risks are the #1 business concern in 2024 per the survey. 62% of the 1,200 or so respondents cited cyber as a top concern.

Cyber ranked higher as a concern than medical cost inflation (59%), increasing employee benefits costs (59%), broad economic uncertainty (59%), and the ability to attract and retain talent (54%). Medical cost inflation was the highest concern last year.

I included a link to the 2024 Risk Index above but here’s the LINK again for reference.

If you have questions about cyber insurance coverage or would like to see what the cost would be for a cyber insurance policy for your company, please contact me to discuss.

-JK