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How the increase in ransomware has impacted the cyber insurance market

22
Mar
2022
How the increase in ransomware has impacted the cyber insurance market

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Panaseer shares data on actions enterprises are willing to take to solve the escalating cyber insurance crisis.

In recent years the cyber landscape has been dominated by a sharp increase in ransomware attacks. According to SonicWall, ransomware attacks increased 105% in 2021 and Sophos’ report, the “State of Ransomware 2021,” revealed the average ransom paid is now $170,404 but remediation costs $1.85 million, ten times the size of the ransom payment, on average.

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