The most recent Coalition 2025 Cyber Claims Report indicates that so-called business email compromise (BEC) together with funds transfer fraud remain the most prevalent cyber claims, accounting for 60% of total cyber insurance claims made by the firm’s policyholders in 2024. Ransomware, while still a major risk with average demands still in the millions of dollars, has decreased slightly in frequency and severity. Forty-four percent of Coalition policyholders who suffered ransomware attacks opted to pay the ransom.

BEC and FTF: The leading causes of cyber insurance claims

Business email compromise, in which cybercriminals use sophisticated social engineering tactics and AI-generated content to impersonate top executives, tricking employees into transferring funds or revealing confidential information, increased in severity by 23%.
For Coalition policyholders specifically, funds transfer fraud (FTF), where victims were convinced to transfer money to fake accounts, cost an average of $185,000 last year. FTC observed a decline in high-value claims, indicating that financial institutions are detecting fraud more efficiently by flagging large transactions with greater scrutiny.

Special Reports /

Apply defenses to curb BEC and fraud risks

Related Stories

Recommended For You