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Now's the time for insurance professionals and insureds to reexamine cybersecurity strategies and coverage.

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Slightly more than a quarter of survey respondents said they had a cyber incident and around half of those events occurred in the past 12 months, Travelers Insurance reported. Among companies that have been victims, 71% reported having more than one incident. (Credit: nevodka.com/Adobe Stock) Slightly more than a quarter of survey respondents said they had a cyber incident and around half of those events occurred in the past 12 months, Travelers Insurance reported. Among companies that have been victims, 71% reported having more than one incident. (Credit: nevodka.com/Adobe Stock)

For the third time in four years, cyber risks ranked as the overall top cause of stress for business leaders, according to the 2022 Travelers Risk Index, which also found that nearly 60% think it is inevitable that their organization will be hit by a cyberattack.

Other leading concerns on this year’s index were: broad economic uncertainty, volatility in oil and energy costs, the ability to attract and retain talent and medical cost inflation.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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