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“Lots of risk modeling is based upon data, and understanding that pattern of data and being able to build models from those trends,” said RMS’ Matt Harrison. (Photo: Billion Photos/Shutterstock)

The rapid adoption of digital operations at the onset of COVID-19 stay-at-home orders resulted in explosive cybercriminal activity as businesses’ cyber exposures increased radically.

One analysis from Guidewire reported a 40% increase in ransomware attacks in the first three quarters of 2020 compared to the same period a year prior. Guidewire also found a 350% spike in phishing schemes.

Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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