According to the second annual Travelers Business Risk Index, cyber risk is the second biggest concern for U.S. businesses, after moving up from fifth place last year.
Cyber risk is an increasing worry of U.S. businesses following medical cost inflation. The report found that businesses are most concerned with malicious and criminal attacks (55%), human error (24%) and system glitches (21%). Of malicious attacks, the most worrisome are:
- Having computers or data systems infected with a virus (57%)
- Someone gaining access to their banking accounts or financial control systems (51%)
- A security breach or someone hacking into their computer systems (50%)