Ransomware demands rise

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.