skip to main content
Travelers Logo
  • About
  • For Brokers
  • Contact Us
  • Careers
  • Français
Français
Main Navigation
  • For Individuals
      • Insurance for Individuals
      • Car
      • Home
      • More
      • New Home Warranty
        • TRU Builder™
        • Buyers & Homeowners
        • Builders & Developers
        • More
      • Services
        • Payment Options
        • Why Credit History Matters
    • Learn more

      You're a Safe Driver. Why Not Get Rewarded for It?

      IntelliDrive® is an auto insurance program available for customers in Ontario. 

      Learn more
  • For Business
      • Commercial Insurance
      • Industries
        • Business and Professional Services
        • Construction & Contractors
        • Hospitality
        • Manufacturing
        • More
      • Management & Professional Liability
        • Crime
        • Cyber
        • Directors and Officers Liability
        • Employment Practices Liability
        • More
      • Surety
        • Contract
        • Commercial
        • Developer
        • Project Loss Insurance
      • New Home Warranty
        • TRU Builder™
        • Buyers & Homeowners
        • Builders & Developers
        • More
      • Services
        • Cross Border Solutions
        • Risk Control
    • Learn more

      5 Ways to Use Digital Marketing to Grow Your Small Business

      Learn how to use digital marketing to help grow your small business.

      Learn more
  • Claim Centre
      • Claim Centre
      • Report a Claim
      • Claim Process
      • Frequently Asked Questions
      • Claim Support Materials
      • Recommended Repair Facilities
      • Recommended Treatment Facilities
      • Understanding Your Tow Rights
      • Report Fraud
      • CAT Response
    • Learn more

      Claim Process

      Navigating the claim process is easier if you know what’s ahead. Learn about what’s next after you file a claim.

      Learn more
  • Prepare & Prevent
      • Car
      • Home
      • Business
      • New Home Warranty
      • Weather
      • Insurance 101
    • Prepare and Prevent

      Prepare & Prevent

      Tips and expertise to help you protect your business and prevent risks at home and on the road. 

      Learn more
  • About Us
      • Our Story
      • Leadership Team
      • Corporate Governance
      • Newsroom
      • Financial Strength
      • Broker Compensation
    • Learn more

      We’re Travelers Canada

      Our team of 1,400 employees work every day with one common goal — to support our brokers and customers across Canada when they need us most.

      Learn more
  • For Individuals
    • Insurance for Individuals
    • Car
    • Home
    • More
    • New Home Warranty
      • TRU Builder™
      • Buyers & Homeowners
      • Builders & Developers
      • More
    • Services
      • Payment Options
      • Why Credit History Matters
      • Find a Broker
  • For Business
    • Commercial Insurance
    • Industries
      • Business and Professional Services
      • Construction & Contractors
      • Hospitality
      • Manufacturing
      • More
    • Management & Professional Liability
      • Crime
      • Cyber
      • Directors and Officers Liability
      • Employment Practices Liability
      • More
    • Surety
      • Contract
      • Commercial
      • Developer
      • Project Loss Insurance
    • New Home Warranty
      • TRU Builder™
      • Buyers & Homeowners
      • Builders & Developers
      • More
    • Services
      • Cross Border Solutions
      • Risk Control
      • Find a Broker
  • Claim Centre
    • Claim Centre
    • Report a Claim
    • Claim Process
    • Frequently Asked Questions
    • Claim Support Materials
    • Recommended Repair Facilities
    • Recommended Treatment Facilities
    • Understanding Your Tow Rights
    • Report Fraud
    • CAT Response
      • Find a Broker
  • Prepare & Prevent
    • Car
    • Home
    • Business
    • New Home Warranty
    • Weather
    • Insurance 101
      • Find a Broker
  • About Us
    • Our Story
    • Leadership Team
    • Corporate Governance
    • Newsroom
    • Financial Strength
    • Broker Compensation
      • Find a Broker
    • Find a Broker
  • Home
  • Prepare & Prevent
  • Business
  • 2023 Travelers Canada Risk Index

2023 Travelers Canada Risk Index

In the first installment of the Travelers Canada Risk Index survey, business leaders said they believe the business world is riskier than it was a year ago. Cyber was the single biggest business risk concern reported by 500 business decision makers. Notably, 60% think it is inevitable that, at some point in the future, their company/organization will be the victim of a cyberattack. Additionally, more than 80% of business leaders reported having the proper cybersecurity controls in place is crucial to their organization’s wellbeing.

Despite worry about broad economic uncertainty, the ability to attract and retain talent, cyber risks remained the number one overall business concern...

[MUSIC PLAYING]

(DESCRIPTION)   

The Travelers logo with red umbrella. Text, 2023 Travelers Canada Risk Index   

(TEXT)   

We asked 500 business leaders: What is your biggest concern?   

(DESCRIPTION)   

Animation. The screen has multiple choices scrolling quickly including:  

Workforce Changes  

Extreme Weather  

Corporate Reputation  

IP Risks  

Legal Liability  

Supply Chain Risks  

Environmental Concerns

Cyber Risks   

(TEXT)   

Cyber Risks are the #1 overall concern.   

(TEXT)   

Top 3 Cyber Concerns?   

(DESCRIPTION)   

Animation. The screen displays three answers on a tiered podium with an animated laptop icon, lock icon and hacker icon.   

(TEXT)   

1 Loss of income due to a breach  

2 Employees Putting Systems at Risk,  

3 System Glitch   

(DESCRIPTION)   

Animation. City scape at bottom of screen with text above   

(TEXT)   

40% of businesses have been a cyber victim   

(DESCRIPTION)   

Animation. Cityscape reduces to show a quarter of the image representing 40%.   

(TEXT)   

More than one third of those in the past year.   

(DESCRIPTION)   

Animation. Laptop opens.   

(TEXT)   

70% of affected businesses are victims of multiple attacks.   

(DESCRIPTION)   

Animation. Laptop with skull on screen comes into view and multiplies to show four on screen   

(DESCRIPTION)   

Animation. Hacker icon appears with quote morphs over it.   

(TEXT)   

 “The cyber landscape continues to evolve, with threats becoming more sophisticated and frequent.”   

Michael Trendler, Travelers Canada Specialty Insurance

(DESCRIPTION)   

Animation. Moving red line begins to form an outline of a shield.   

(TEXT)   

Most businesses believe they are prepared for a cyber event.   

(TEXT)   

Yet most do not:   

(DESCRIPTION)   

Animation. Moving red line continues to form an outline of a shield. Icon of a protection shied on a server appears.   

(TEXT)   

Use Endpoint Detection and Response   

(DESCRIPTION)  

Animation. Moving red line continues to form an outline of a shield. Icon of a clipboard and warning icon appears.   

(TEXT)   

Have an Incident Response Plan   

(DESCRIPTION)   

Animation. Moving red line continues to form an outline of a shield. Icon of a computer with cell phone next to it appears.   

(TEXT)   

Use Multifactor Authentication   

(TEXT)   

Cyberattacks can have costly and serious consequences.   

(TEXT)   

Help protect your company against these risks.   

(DESCRIPTION)   

The Travelers logo with red umbrella.    

(TEXT)  

Talk to your insurance broker today  

travelerscanda.ca/cyber   

(MUSIC PLAYING)  

Travelers Canada, 165 University Avenue, Toronto, Ontario M5H 3B9. This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of any insurance policy issued by Travelers Canada. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy provisions and any applicable law.   

Copyright 2023 Travelers Canada. All rights reserved. Travelers and The Travelers umbrella logo are registered trademarks of The Travelers Indemnity Company in Canada, the US and other countries. Travelers Insurance Company of Canada, the Dominion of Canada General Insurance company and St. Paul Fire and Marine Insurance Company (Canada Branch) are the Canadian licensed insurers known as Travelers Canada.  

Related Content

  • Business Risk Assessment
  • Managing Your Intellectual Property
  • Premises Security and Liability

See All Business Content


Travelers logo

© 2025 The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in Canada, the U.S. and other countries. Travelers Insurance Company of Canada, The Dominion of Canada General Insurance Company and St. Paul Fire and Marine Insurance Company (Canada Branch) are the Canadian licensed insurers known as Travelers Canada.

  • Travelers on Twitter
  • Travelers on Facebook
  • Travelers on LinkedIn
  • Travelers on Instagram
Français

Products & Services

  • For Individuals
  • For Business
  • Claim Centre
  • Prepare & Prevent

Our Company

  • Why Travelers
  • Careers
  • Community Involvement

Connect

  • Contact Us
  • Payment Options
  • Why Credit History Matters
  • Find a Broker

Legal & Compliance

  • Terms & Conditions
  • Accessibility
  • Privacy & Security
  • Cookie Settings
  • Legal Notices
  • Consumer Complaints
  • Consumer Code