For the second year in a row, business leaders named medical cost inflation, increasing employee benefits costs and cyber risks as their biggest concerns for 2016, according to the results of the "2016 Travelers Risk Index," although those surveyed say they feel the overall business environment is slightly less risky, decreasing from 44 percent to 41 percent.
In addition, despite the concerns over cyber risk, two-thirds of surveyed businesses say they have not implemented basic cyber hacking prevention strategies, such as providing employee data protection education or creating a cyber breach response plan.
Unlike business leaders, more than half (56 percent) of consumers say they feel the world is more risky now than it was a year ago. This continues last year's results, in which 57 percent of consumers thought 2015 was more risky than 2014.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
