Ransomware demands rise
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Average ransomware demands increased to $1.84 million in the second half of 2021, a 20% hike over the first six months of the year, Coalition Inc. said Tuesday.
An analysis of Coalition’s cyber claims also revealed that ransomware claims frequency increased 23% in the second half, the San Francisco-based managing general agent said in its claims report.
Overall, cybercrime claims severity increased 28% to an average loss of $197,000 over the period.
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Insurers run from ransomware cover as losses mount
(Reuters) — Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty payouts.
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