The 2026 Travelers Risk Index has revealed that while companies are more knowledgeable about cyber threats, more confident, and taking more preventive steps than they were a year ago, vulnerabilities remain, especially as artificial intelligence (AI) becomes embedded in everyday operations.
Conducted by Hart Research on behalf of Travelers, the 2026 survey looks at the top concerns of U.S. business decision-makers from small, medium and large businesses across a wide range of industries.
Of the 1,202 U.S. business insurance decision-makers surveyed, nearly 6 in 10 respondents (58%) said they worry some or a great deal about cyber threats, ranking it ahead of economic and geopolitical concerns. In fact, cyber threats ranked as the top overall business concern for the fifth time in eight years for Travelers.
Trailing behind were broad economic uncertainty (55%), last year’s top concern, medical cost inflation (53%), the impact of the global economy on a company (49%), and global/political conflict, terrorism and social unrest (48%).
According to this year’s survey, 70% of companies now report having purchased cyber insurance.
Travelers said this marks an increase of seven percentage points from 2025 and the highest share since the Risk Index became cyber-focused in 2018.
Coverage gains were reportedly evident across all size segments, with large businesses reaching 82% (up from 73% in 2025) and small businesses hitting 50% (up from 43%). Companies are also investing in more cyber controls, with adoption up year over year on nearly every measure tracked.
Notably, concerns about a cyber breach, security incident or other cyber event involving AI ranked as the second-highest specific cyber worry, nearly tied with fears of a traditional security breach or unauthorised access to a company’s computer systems.
“Decision makers pointed to two external threats in particular: attackers using AI to identify and exploit system vulnerabilities, and AI-generated phishing, deepfakes and social engineering aimed at employees or customers,” Travelers explained.
The firm continued, “The pace among companies to adopt strong cyber defences is part of the challenge. Nearly 9 in 10 survey participants (89%) reported AI use on a day-to-day basis within their workforce – yet fewer than 6 in 10 (59%) have formal practices in place to govern the use of AI.”
John Menefee, Vice President and Enterprise Cyber Lead at Travelers, commented, “This 30-point gap really stands out, and it cuts both ways. Companies are focused on what cybercriminals are doing with AI, and that concern is justified.
“However, companies should be equally focused on the risks created by their own AI use when the right practices and policies aren’t in place.”
“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.
“At the same time, the rapid rise of AI is creating opportunities for attackers just as companies are making progress on basic defences. The message is clear: Organisations of all sizes should treat cyber threats, especially AI-related cyber risk, as a core business issue and take steps to strengthen defences.”
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