This increase in cyberattacks presents a new challenge for insurers who previously may not have had to consider these perils as they related to their policies. (Credit: Oleksii/stock.adobe.com) This increase in cyberattacks presents a new challenge for insurers who previously may not have had to consider these perils as they related to their policies. (Credit: Oleksii/stock.adobe.com)

According to InformationWeek, in just the first half of 2021, global cybercrime increased 29%, ransomware attacks rose 93% and demands increased by a remarkable 518%. Actual payments, they found, increased by more than 80%.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • 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.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].