A recent report from Allianz insurance outlining some key statistics and trends related to cyber incidents.  For example:

  • Business interruption (BI) losses accounted for 60% of cyber insurance claims in the past five years.
  • Analysis of more than 1,700 cyber insurance claims worth €660m in the past five years also reveals that the average cost of cybercrime for organisations has increased 70% to $13m.
  • There were 770 claims lodged with AGCS in the first nine months of 2020. This follows 809 for the whole of 2019.
  • Almost half a million ransomware incidents were reported globally last year, costing at least $6.3bn in ransom demands. Total costs are thought to be in excess of $100bn.

Click the button below to read the full report.