"Ransomware Cyber Insurance Claims up by 27%"
"Ransomware Cyber Insurance Claims up by 27%"
According to Coalition, the frequency of cyber insurance claims rose by 12 percent in the first half of 2023. Early in 2023, Coalition discovered that the frequency and severity of business claims increased across all revenue bands. Companies with revenues greater than $100 million experienced the most significant increase (20 percent) in the number of claims, as well as greater losses from attacks. According to Coalition's report, ransomware claims in the first half of 2023 increased by 27 percent from the second half of 2022.