Cyber threats top business worries in new survey
Cyber threats have again been ranked as the leading concern for businesses, according to the 2026 Travelers Risk Index released this week.
Cyber Threats Top the List
The annual survey of U.S. firms shows 58% of respondents worry “some or a great deal” about cyber attacks, outpacing worries about the economy or geopolitics.
The index lists broad economic uncertainty at 55% as the second-most cited issue, while 49% cite global economic impact and 48% flag political conflict, terrorism or social unrest.
“Businesses view cyber threats as a serious concern, and they’re getting smarter and more prepared – investing in controls, building confidence and turning to their insurance carrier for guidance,” said John Menefee, Vice President and Enterprise Cyber Lead at Travelers.
AI Raises New Risks
Concerns specific to AI-driven breaches rank second among cyber worries, nearly matching traditional fears of unauthorized system access. Decision-makers point to attackers using AI to locate vulnerabilities and AI-generated phishing, deepfakes or social-engineering attacks aimed at staff or customers.
The survey finds 89% of participants use AI daily in their workforce, yet only 59% have formal governance practices for AI. The gap highlights that while organizations monitor external AI threats, internal controls lag behind.
The rise of AI tools creates a double-edged sword: they can automate defensive tasks while simultaneously giving attackers new shortcuts. This dynamic forces firms to balance rapid innovation with disciplined oversight, often stretching limited security staff.
Companies Boost Defenses
Cyber insurance adoption hit 70% this year, a seven-point rise from the prior survey and the highest level since the index began focusing on cyber in 2018. Large firms report 82% coverage, up from 73%, while small firms reach 50% up from 43%.
Adoption of core controls also climbed. Firewalls are now used by 81% of respondents, up from 76%; data backups match that level. Background checks on employees rise to 79% from 70%, and onboarding/offboarding protocols increase to 74% from 63%.
Multi-factor authentication for administrative accounts is in place for 72% of firms, a jump from 60% a year earlier. Two-thirds of participants now rate their cyber readiness as “extremely” or “very” confident, and 92% trust their insurance carrier’s expertise on security matters.
To disseminate the findings, Travelers Institute® will host a “Wednesdays with Woodward®” webinar on Sept. 30. The session will explore global cyber risks and strategies for communicating safety, featuring former White House cyber leaders Jeff Greene and Nicole Tisdale.
