Cyber Insurance Claims

Another Large UK Company Caught with Inadequate Cyber Insurance? The Co-operative Group Appears Underinsured.

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The Co-operative Group is a British operator of retail stores, funeral homes and other businesses. Like Marks and Spencer, another major UK retailer, the Co-op, which generates billion-of-dollars in yearly revenue, has been hit with a major cyber attack. But compared to Marks and Spencer, the Co-op appears to be grossly underinsured for cyber threats. … Read more

Jaguar’s New Tagline is “Copy Nothing,” but its Cyber Insurance Disaster Suggests “Penny Wise, Pound Foolish” Might be More Apt

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Jaguar Land Rover, also known as JLR, was hit with a cyber attack last month that forced the company to shut down its tech systems and assembly lines, with billions-of-dollars of damages and lost sales potentially far exceeding JLR’s pre-tax profit last fiscal year. Sounds like time for the car maker’s cybersecurity insurance policy to … Read more

Cyber Claims 2025: Allianz Report Shows 50% Drop in Claim Severity but Rising Risks

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Compared to the same period last year, cyber claim severity dropped by more than 50% in early 2025, according to Allianz Commercial’s new Cyber Security Resilience 2025 report. The findings highlight stronger defenses among insured firms, but also reveal expanding risks from data theft, supply chain disruption, and privacy litigation. Claims Decline in Severity, but … Read more

Cyber Insurance Claims 2025: Ransomware Costs and Downtime Surge in NetDiligence Report

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Shattered digital padlock with financial chart background and bold text “Cyber Insurance Claims 2025,” symbolizing cyber breaches and insurance costs.

Cyber insurance claims are rising fast, with ransomware and business email compromise (BEC) driving record losses. NetDiligence’s 2025 Cyber Claims Study, based on 10,402 claims between 2020 and 2024, highlights how costs and downtime are hitting businesses harder than ever. The report paints a stark picture: small and medium enterprises (SMEs) face surging recovery and … Read more

Large Cyber Claims Surge: AXA XL Study Finds 88% of Losses Driven by Major Attacks

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Cyberattacks are costing businesses millions – 88% of global cyber losses now tied to claims above $1 million, according to AXA XL. Analysis of more than 300 incidents reveals a stark reality: ransomware alone drives over 60% of recent large claims, with ransom demands spiking to an average of $32 million in 2023. The report, … Read more

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