Allianz Commercial’s annual cyber risk outlook reveals a surge in data privacy breaches, driven by ransomware attacks and leading to class action litigation. Large cyber claims exceeded $1.1 million, up 14% in the first half of 2024. Ransomware accounted for 58% of these claims, with the US being responsible for 72% of all major claims. Weak cybersecurity in organizations and growing legal issues surrounding data privacy are highlighted as significant contributors to these trends.
How CISOs And SOC Heads Can Protect The Organization
Social engineering dominates modern cybersecurity, exploiting human psychology to breach systems despite advanced defenses. Techniques like phishing are prevalent. CISOs must foster vigilance through continuous
