1-ATTACKS BY EMAIL
The Threats favored by Actors are by email as a gateway for attacks
-Business email compromise (BEC) and funds transfer fraud (FTF) accounts for 58% of all claims
-52% of FTF claims originated as a BEC with an average loss of $112K
-71% of all FTF claims were a direct result of social engineering
2- RANSOMWARE
Ransom demands surged, but payouts are drying up
-Initial ransom demands surged 47% to an average of over $1M
-86% of businesses hit by ransomware refused to pay the demand
-70% of ransomware events involved encryption and data exfiltration, often doubling incident cost
3- WRONGFUL COLLECTION
Privacy litigation is moving beyond the breach
-Old laws are being used to target everyday web‑tracking tools and data‑sharing practices
-72% of privacy claims cited the outdated 1967 California Invasion of Privacy Act
-11% of violations involved the Meta Pixel, alleging improper sharing of data with third parties
THERE’S GOOD NEWS & POSITIVE OUTCOMES
The Power of Cyber Insurance with some Insurer’s
-One Insurer had 64% of closed claims resulted in no out‑of‑pocket loss for policyholders
-One Insurer recovered $21.8M in stolen funds, averaging of $202K per incident
-One Insurer incident response negotiated ransom payments down by an average of 65%
We have Cyber Insurance solutions for Commercial and Personal Click here to Contact us to get your Quote or call 1-732-675-6777
