Loss Trends in Cyber Liability Insurance Webinar
Cyber attacks on major software and high-profile targets are expected to persist, as evidenced by recent incidents.
Business email compromise, increasingly severe ransomware attacks like Dark Angel targeting public companies, and persistent wire fraud continue to be prominent cyber threats requiring stringent security measures.
Wire transfer fraud is a form of cybercrime where criminals impersonate executives to request fraudulent wire transfers, sometimes using deep fake technology to make their impersonation more convincing.
Despite ransomware's media prominence, wire transfer fraud emerges as a leading cybersecurity threat, with companies falling victim to sophisticated scams including deepfake tactics that result in million-dollar losses.
First-party cyber coverage protects against direct company losses including breach notification costs, forensic investigations, ransomware payments, and data restoration.
