The Rise in Large Cyber Claims
The first half of 2024 has seen a significant increase in large cyber claims, with a 14% rise in frequency and a 17% increase in severity. This trend is particularly concerning as it indicates a growing vulnerability in the digital landscape. * Frequency of large cyber claims (>€1mn) up by 14%
- Severity of losses increased by 17%
These figures highlight the escalating risks that organizations face in the digital realm. The increase in both frequency and severity of large cyber claims underscores the need for robust cybersecurity measures and comprehensive risk management strategies. ## The Role of Data and Privacy Breaches A significant portion of these losses, two-thirds to be precise, are related to data and privacy breaches. This trend is not only alarming but also indicative of the growing importance of data protection in the digital age.
We are a global leader in the insurance industry, with a strong presence in more than 100 countries. Our team of experts is dedicated to providing tailored solutions that meet the unique needs of our diverse clientele. ## Our Global Reach Allianz Commercial operates in over 100 countries, providing insurance solutions to a wide range of industries.
