Ransomware is becoming an increasingly common cause of cyber loss for both healthcare and non-healthcare businesses. According to the NAS Insurance 2019 Cyber Claims Digest, which analyzed data from 2018 claims, ransomware was the second most common cause of cyber claims last year – just as it was in 2017.
“In 2017 and 2018, ransomware events were front and center as an area of great concern for our insureds and remained the second-most cause of loss among all of our cyber claims in each year,” says Jeremy Barnett, senior vice president of marketing at NAS Insurance. “Over the past two years, we resolved over 90 ransomware incidents among a broad range of businesses and with various ransom demands. Payment demands were wide-ranging and topped out over $30,000, and in a variety of currencies.”
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.