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Cyber Claims in the UK See Second-Highest Spike on Record The UK cyber insurance market faced intense pressure in 2024. Marsh’s new cyber insurance report states that claims volumes hit the second-highest level ever. Although 2024 claims were 20% lower than 2023, they remained one-third higher than in 2020–2022. Ransomware attacks, supply chain breaches, and … Read more
Cloud Disruptions Rise Critical cloud outages rose by 18% in 2024, lasting nearly 19% longer than in 2023. Google Cloud experienced a 57% increase in downtime hours. Microsoft Azure improved, reducing downtime by over 20%. At the same time, Amazon Web Services (AWS) remained the most reliable among the top three providers. All this comes … Read more
The company now offers “tailored parametric insurance solutions” to protect companies when their IT systems go down, creating business or digital system interruptions. The business interruption insurance follows the July CrowdStrike outages, which created billions in estimated losses from downtime and other consequences of the software snafu. “Enterprise solutions are customized to address the unique … Read more