X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
During the second quarter of 2021, Corvus experienced a 50% decline in the number of ransomware claims. This drop in frequency was attributed to the shutdown of ransomware groups Darkside and REvil during the Q2 2021. This decrease was sustained through the subsequent quarter. (Credit: Andrey_Popov/Shutterstock.com) During the second quarter of 2021, Corvus experienced a 50% decline in the number of ransomware claims. This drop in frequency was attributed to the shutdown of ransomware groups Darkside and REvil during the Q2 2021. This decrease was sustained through the subsequent quarter. (Credit: Andrey_Popov/Shutterstock.com)

Ransomware claims that resulted in the demands being paid shrank from 44% in Q3 2020 to 12% during the most recently closed quarter, according to Corvus, which has seen large, sustained declines in the number of ransomware claims.

Further, costs associated with a ransomware attack have held steady year-on-year, averaging $142,000, a Corvus report found.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Steve Hallo

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

More from this author

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • 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

Already have an account? Sign In Now
Join PropertyCasualty360
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.