Coalition’s Cyber Claims Report Shows "No-one is Immune" to Attacks

Coalition released its cyber claims report in March, analyzing data from active cyber insurance companies in Canada and the United States throughout 2021.

The report revealed that ransom demands have significantly increased over the past year with smaller companies becoming more of a target for cyber criminals who continue to take advantage of remote working life.

Coalition published the report to give the industry more transparency and insight into cyber insurance claims and best practice risk mitigation and incident response.

‘Our ability to have far more intimate details around what the adversary did, how they got in, and how to get them out of the network, not only enables us to improve underwriting, but allows us to provide more detailed information around claims,’ Shawn Ram, head of insurance at Coalition told Insurance Business.