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A group of arrows point upward with a yellow coin with a dollar sign in the middle against a red background. When it comes to who is most at risk of cyberattack, Gallagher’s research revealed evidence hackers have begun to favor victims that can act as a gateway to additional targets. (Credit: 200dgr/Shutterstock.com)

New attack strategies from hackers, escalating ransomware attacks and growing geopolitical tensions are just a few of the factors that have driven cyber insurance premiums upward through Q1 2022, says a recent report from Gallagher.

While the median rate increase for cyber coverages was 37%, they found the top 25% of companies saw cyber rate increases of 83.3% in the first quarter of 2022. These premium increases have happened regardless of the insured’s industry or the size of their organization.

When it comes to who is most at risk of cyberattack, Gallagher’s research revealed evidence hackers have begun to favor victims that can act as a gateway to additional targets. This includes entities like global software providers, email platforms and large-scale meat and fuel suppliers.

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Brittney Meredith-Miller

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

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