Cyber claims surged over the past year due to a rise in data and privacy breach incidents, with the frequency of large claims increasing by 14% in the first half of 2024, according to Allianz Commercial’s annual cyber risk outlook. Notably, two-thirds of these large losses related to data and privacy breaches. In addition, the upward trend of data breach losses among cyber insurance claims was impacted by increasing ransomware attacks, changing attacker tactics and a shift in regulatory and legal environments.
Dispersed responsibility, lack of asset inventory is causing gaps in medical device cybersecurity
Witnesses at a House hearing on medical device cybersecurity highlighted the need for better tracking of devices and their vulnerability to cyber threats. They noted
