"We often hear about high profile sophisticated attacks in the media, but as a whole, the majority of ransomware attacks are not targeted, nor are they technically sophisticated," said Thomas Kang, North American head of cyber, tech and media at Allianz Global Corporate & Specialty(Credit: Bits and Splits/stock.adobe.com)

The biggest drivers of cyber losses are business interruption and restoration costs, according to Allianz Global Corporate & Specialty (AGCS), which reported that the two accounted for more than half of the value ($885 million) of nearly 3,000 insurance cyber claims.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]