Cyber claims are continuing their upwards trend over the past year, with the frequency and severity of large cyber claims up 14% and 17% year-over-year in the first half of 2024.
Allianz Commercial’s annual cyber risk outlook also shows that data and privacy-breach related present in two thirds of those large losses.
Related: Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Other recent reports show rises in certain cyber events, such as a rise in “non-attack” data privacy claims, attributed to advancements in technology. Data breaches have become a surging