2020 Travelers Risk Index finds fewer companies taking steps to mitigate cyber threats despite increased concern
The Travelers Companies, Inc. announced the results of the 2020 Travelers Risk Index, which found that fewer companies than last year have taken steps to mitigate cyber risks, even though the level of concern about these threats has increased during the COVID-19 pandemic.
More than 1,200 business leaders participated in the national survey, and less than half said their organization has utilized hacker intrusion detection software (48%), undergone a cyber risk assessment on their company (47%) or vendors (37%), or written a business continuity plan that could help them respond to a cyber attack (42%). More business leaders reported taking each of these precautions just a year ago. This is especially concerning as nearly 1 in 4 respondents (22%) said their company was a victim of a cyber event, the highest percentage since the survey began in 2014.