2026-09-23 · Source: Insurance Journal
Summary in 3 Points • 58% of businesses express significant concern about cyber risks, surpassing worries about economic or geopolitical issues. • Cyber threats have been the top business concern for five of the last eight years, according to Travelers' Risk Index. • 70% of businesses now purchase cyber insurance, the highest rate since the index began focusing on cyber risks in 2018. --- The latest Risk Index from Travelers reveals that 58% of businesses are highly concerned about cyber risks, outpacing concerns related to economic and geopolitical issues. This marks the fifth time in eight years that cyber threats have been identified as the top business concern. The rapid advancement of artificial intelligence is transforming the cyber threat landscape, with 55% of business leaders worried about AI-related security breaches. Despite these concerns, 70% of businesses are now investing in cyber insurance, the highest percentage since the index began in 2018. While companies are increasing their cybersecurity investments, including firewalls and multifactor authentication, there remains a gap in preparedness for cyberattacks. Many businesses have not yet implemented effective incident-response plans or simulations. John Menefee from Travelers emphasises the importance of treating cyber threats as a core business issue, especially with the rise of AI, which presents new opportunities for cyber attackers. For the London Insurance Market, the rise in cyber threats has led to increased demand for cyber insurance, with Lloyd's of London playing a pivotal role in providing coverage and expertise in this area.
For the London Insurance Market, the rise in cyber threats has led to increased demand for cyber insurance, with Lloyd's of London playing a pivotal role in providing coverage and expertise in this area.