Report highlights urgent need for cyber insurance
Increase in cybercrime complaints: In 2023, the FBI received over 880,000 cybercrime complaints, with reported losses exceeding $12.5 billion, a 13% rise compared to 2022. Rising ransomware costs: Ransomware attacks accounted for 58% of large claims in 2024, with the average cost per ransomware incident increasing to $432,000, up from $334,000 in 2023. Legal pressures … Read more