Chubb, one of the biggest P&C insurers, reports they see increases in the number of reported ransomware incidents across many sectors.

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Chubb, one of the biggest P&C insurers, reports they see increases in the number of reported ransomware incidents across many sectors. With increases of 30% for manufacturing 23%, technology 13%, and healthcare 11%, with minor increases (<10%) across other sectors. In the 3rd quarter of 2019. They report that Malware claims, including ransomware have increased to 18% of all claims in 2019 alone (12% for the past 5 years), 40% of all manufacturers cyber claims and 23% of all cyber claims from smaller businesses. These figures feel as though they align with the messages we see in the media about ransomware. By way of example, it aligns with the report I posted yesterday on manufacturing, OT and cyber. Ransomware is a crippling attack, one which can have an immediate enterprise wide impact on an organisation. Companies should not adopt 'It won't happen to me', they may find that their insurance won't cover most of the costs of an attack. I have a real concern that this is not going to go away, as the figures suggest successful attacks are on the rise. View Original Post
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