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Ransomware’s good, bad and ugly impact on insurers

The recent rise in ransomware attacks appears to be a mixed blessing for the insurance industry, according to Aon Benfield's recent 'Cyber Update.'

By Elana Ashanti Jefferson | Updated on May 25, 2017

The recent rise in ransomware attacks appears to be a mixed blessing for the insurance industry.

Consider the assertion that the number of ransomware events quadrupled between 2015 and 2016, according to a January study from Beazley, paired with Aon Benfield’s findings released earlier this month that the average cyber insurance loss ratio for insurers in 2016 was 57.7 percent, more than 16 percent higher than the previous year.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].

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