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Cyber claims rise in first half: Report

In the first half of 2024, cyber liability claims severity rose 14% to an average loss of $122,000, largely due to ransomware, according to a Coalition Inc. report. Business email compromises were the top cause of loss, accounting for 32% of incidents. Businesses with more than $100 million in revenue saw the biggest surge, with claim severity up 140%.

Source: www.businessinsurance.com –

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