Ransomware incidents continue to increase in frequency and severity, with attacks rising 20% in 2024 and VPNs seen as the biggest contributor, according to a new report by insurance security provider At-Bay.
Mid-sized companies generating $25-100 million in revenue were found to be hit hardest, with a reported 46% increase in attacks.
According to its 2025 InsurSec Report, At-Bay claims data analysis revealed severity of ransomware attacks increased by 13%.
Businesses impacted by attacks on vendors and partners increased 43 percent, while the average cost of these third-party incidents jumped by 72%.
The data found