Cyber insurance claims for ransomware reach record high

A new report from cyber insurance provider Coalition shows a 12 percent increase in cyber claims over the first six months of this year, driven by the notable spikes in ransomware and funds transfer fraud (FTF). Companies with over $100 million in revenue saw the largest increase (20 percent) in the number of claims as well as more substantial losses from attacks -- with a 72 percent increase in claims severity from the second half of 2022. 'The cyber threat landscape has become more volatile, and, as a result, we've seen claims become more costly and common than ever,' says… [Continue Reading]