More than half of these agents also said one of the biggest motivating factors for their clients deciding to purchase cyber insurance is witnessing a similar business suffer a cyberattack. (Credit: Eviart/Shutterstock.com)
The FBI's Internet Crime Complaints Center (ICCC) reported cybercrime losses hit $6.9 billion in 2021, an increase of around $2.7 billion dollars from cyber losses in 2020. This number has ticked upward steadily year-by-year from a reported $1.4 billion in 2017. Even with these rising losses, however, many insurance agents are still struggling to get their clients to fully understand cyber insurance.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
