Purely digital transactions and the growing availability of personal data for sale is driving this trend, LexisNexis reported.
Evidence suggests California's Zogg Fire last year was caused by a tree falling on the utility's power line.
Over the past five years, SMBs have faced an average ransom of $247,000 and around $350,000 in recovery costs per incident.
Sponsored by VPay
Consumers want claims payments to be fast and easy. Are you delivering?
Sponsored by Agency Revolution
- Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
- Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
- Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events
Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.