According to a new report published today by Marsh, the number of companies in the US and Canada experiencing a cyber extortion event hit record numbers in 2023, with unprecedented ransom demands.
Tag: cyber claims
NetDiligence Unveils Thirteenth Annual Cyber Claims Study
This year’s study analyzes 9,000 cyber claims spanning the period from 2018 to 2022, with 800 claims from 2022 alone.
Ransomware Drives 12% Uptick in H1 Cyber Claims: Coalition
Cyber claims increased 12% in the first half of 2023 thanks in large part to a 27% increase in ransomware claim frequency, according to Coalition’s latest Cyber Claims Report.
Cyber Insurance Market Shows Signs of Stability, Says Marsh
Rate hikes are decreasing on average, and there are signs of stabilization, according to Gregory Eskins, cyber product leader at Marsh in the United States and Canada. Additionally, the risk management postures of corporations are improving. Insurers are establishing clearer underwriting standards, which can strengthen customer controls; and coordination between the public and private sectors… Continue reading Cyber Insurance Market Shows Signs of Stability, Says Marsh
WTW Launches Suite of Cyber Assessments to Help Clients Better Manage Risk
Willis Towers Watson, a leading global advisory, broking and solutions company, has introduced two new cyber risk assessment services in direct response to the findings from its recent cyber claims insights report. The report found that: Human error (people risk) was the single biggest root-cause of global cyber incidents / claims, and; Ransomware (and the… Continue reading WTW Launches Suite of Cyber Assessments to Help Clients Better Manage Risk