Cyber claims are continuing their upwards trend over the past year, with the frequency and severity of large cyber claims up 14% and 17% year-over-year in the first half of 2024. Allianz Commercial’s annual cyber risk outlook also shows that …
Ransomware gangs didn’t come out with any big new innovations last year, but “what 2022 lacked in innovation it made up for in volume,” according to a report by a financial services group. In its annual outlook on cyber threats, …
Ransomware attacks are on the rise. Cyber criminals continue to exploit lax security measures, which have become more acute in the work-from-home environment, and hack into companies’ systems, encrypt their data, and then demand multimillion-dollar ransoms. Though cyber insurance policies …
The ransomware attacks on public entities in Texas, Florida, Maryland, Georgia and elsewhere this year have raised questions not only about paying ransoms but also about the role of insurance in helping these targets get back to serving the public. …
Cybercrime claims by policyholders outside the health care sector nearly doubled in 2018, led by financial fraud, often phishing schemes that lead to payments or wire transfers to criminals posing as clients or business partners, NAS Insurance said in a …