BI drives 60% of cyber losses as average costs spiral, says AGCS

Business interruption (BI) losses accounted for 60% of cyber insurance claims in the past five years, according to new analysis from Allianz Global Corporate & Specialty (AGCS). AGCS’s analysis of more than 1,700 cyber insurance claims worth €660m in the past five years also reveals that the average cost of cybercrime for organisations has increased 70% to $13m. Meanwhile, the…

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