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Data and Analysis From Allianz Commercial –

Allianz Commercial reports an increase in cyber claims, with a 14% rise in claims over €1 million in H1 2024 and severity up by 17% due to increasing data and privacy breaches. Claims are expected to stabilize in 2024 after a 30% increase in 2023. ‘Non-attack’ claims relating to privacy violations are becoming more common, with class action lawsuits in this area growing rapidly. A large number of data breaches resulted from weak internal cybersecurity.

Source: insurance-edge.net –

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