The severity and frequency of sizable cyber insurance claims saw significant increases in H1 2024, driven primarily by data breaches and privacy violations. Allianz Commercial’s annual cyber risk analysis revealed a 14% jump in the number of large cyber claims and a 17% rise in their severity, with two-thirds of these related to data and privacy incidents. Notably, class action lawsuits related to data privacy issues in the US more than doubled in 2023. Data breach litigation risk is also growing in Europe.
'Keep us safe': Covenant Health patient data breached after cyber incident – WGME
Summarize this content to a maximum of 60 words: ‘Keep us safe’: Covenant Health patient data breached after cyber incident WGME
