business interruption

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

1 in 7 Firms Hit by Disruptive Cyber Event: The Alarming Cost of Unplanned Downtime

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Time off can be a gift—when it’s planned. But when work screeches to a halt because of a disruptive cyber event, the losses are more than just productivity. A new report from QBE Insurance reveals that 1 in 7 businesses suffered an unplanned business interruption of one working day or more in the past 12 … Read more

Cybersecurity Crisis: WTW 2025 Report Reveals Alarming Supply Chain Threats

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Highly Efficient Supply Chains Expose Global Firms to Cybersecurity Threats Today’s interconnected global economy has produced exceptionally efficient supply chains, but at a growing cost: cybersecurity vulnerability. According to WTW’s newly released 2025 Global Supply Chain Risk Report, cyber threats are now a central concern in supply chain risk management. Based on replies from 1,000 … Read more

Cyber Insurance Settlements Received by Major Auto Dealers After Hack Last Year – Update

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We recently told you how a cyber insurance settlement of $30 million boosted Q1-2025 results for Sonic Automative, which was hit by the ransomware attack last year on CDK Global, provider of software for auto dealerships. Now two more of America’s largest auto dealers have made public filings touching on the hack and their actual … Read more

Ransomware Attacks Surge 20% in 2024: At-Bay’s New Report Warns Mid-Sized Companies

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Ransomware Attacks Surge Again in 2024 Ransomware attacks rose nearly 20% in 2024, according to At-Bay’s newly released 2025 InsurSec Report. The severity of these cybercrime attacks also jumped 13%. The report, grounded in real claims data, shows the digital battlefield is getting riskier, especially impacting cybersecurity for mid-sized businesses. Companies earning between $25 million … Read more