Cybercrime has grown exponentially over the past several years and a new report from the FBI finds that losses worldwide in 2021 were estimated at $6.9 billion – up from $4.2 billion in 2020. Business email compromise was the costliest scam, with losses of nearly $2.4 billion in 2021.

In this week's Insurance Speak podcast, Andrew Lipton, vice president and head of cyber claims for AmTrust Financial Services, provides listeners with a first-hand look at what a cyberattack looks like for many businesses.

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Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]