Ransomware attacks are indiscriminate and no company or industry is immune. Collaboration within a company in terms of communication, information and risks can greatly improve an organization's chance to protect against these events. Ransomware attacks are indiscriminate and no company or industry is immune. Collaboration within a company in terms of communication, information and risks can greatly improve an organization's chance to protect against these events. Photo: Gorodenkoff/Adobe Stock

Cyber risks are constantly evolving, and while there had been a lull in the frequency of ransomware attacks, that respite has clearly ended. In an interview last month on NPR, Jackie Burns Koven of Chainalysis, a blockchain data platform that provides insights on cyber risks and attacks, said that 2023 is shaping up to be one of the worst years yet in terms of ransomware payments. Koven shared that the company had tracked at least $450 million in ransomware payments through June 2023 and the number is expected to increase.

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Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, 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]