BEC overtakes ransomware and data breaches in cyber-insurance claims
Business email compromise (BEC) has become the most common reason for organizations to file cyber-insurance claims, a new AiG study[pdf] covering the EMEA (Europe, the Middle East, and Asia) region shows. Last year, 23% of all cyber-insurance claims were related to BEC.
Ransomware accounted for 18% of claims, followed by data breaches caused by threat actors (14%) and data breaches caused by human error (14%). AIG expects that the current rise of targeted ransomware attacks will see this threat reclaim the top spot on the AIG list, which it held last year with a 26% share of cyber claims.