BEC overtakes ransomware and data breaches in cyber-insurance claims

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https://www.zdnet.com/article/bec-overtakes-ransomware-and-data-breaches-in-cyber-insurance-claims/

Business email compromise (BEC) has overtaken ransomware and data breaches as the main reason companies filed a cyber-insurance claim in the EMEA (Europe, the Middle East, and Asia) region last year, said insurance giant AIG.

According to statistics published in July, AIG said that BEC-related insurance filings accounted for nearly a quarter (23%) of all cyber-insurance claims the company received in 2018.

Ransomware-related incidents came in in second place, accounting for 18% of all cyber-insurance claims in the EMEA region, followed by claims for data breaches caused by hackers and data breaches caused by employee negligence (e.g. sending data to the wrong person), both with 14%.

BEC overtakes ransomware and data breaches in cyber-insurance claims

BEC-related cyber-insurance claims accounted for nearly a quarter of all claims in the EMEA region, AIG said.

www.zdnet.com