Crime, Cyber and Insurance Industry - Insurance Industry Brief

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Crime

Cyber

Insurance Industry

The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.

Triple-I: Business Insurance

APRIL 4, 2024

Cyber incidents reported to the FBI’s Internet Crime Complaint Center (IC3) in 2023 totaled 880,418. Meanwhile, supply-chain attacks increased, and weak notification frameworks further increased cyber risk for all stakeholders. These attacks caused a five-year high of $12.5 billion, the most for any cybercrime tracked.

Financial Loss

Financial Loss Cyber Crime Risk

Inflation Considerations for Risk Managers and Insurance Buyers

Risk Management Monitor

OCTOBER 25, 2022

The insurance industry has already seen several supply chain and inflation-driven Security Class Action claims. Wage and labor inflation also remain a challenge in a tight (though softening) labor market as companies either cannot fully staff their businesses or are spending more to attract and retain talent.

Risk

Risk Insurer Insurance Insured

The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.

Inflation Considerations for Risk Managers and Insurance Buyers

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