NetDiligence: 2024 Cyber Claims Study

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NetDiligence

The 14th annual NetDiligence Cyber Claims Study has just been released. This year’s report presents a summary statistical analysis of over 10,000 cyber claims from incidents that occurred between 2019 and 2023. In contrast, their inaugural Cyber Claims Study in 2010 analyzed fewer than 100 cyber insurance claims.

An overview by the numbers is provided below and offers you a comprehensive understanding of the report’s contents:

  • 10,464 claims analyzed, arising from incidents occurring 2019-2023
  • 4,991 new and updated claims collected in 2023, from incidents occurring 2021-2023
  • 1,301 claims analyzed arising from incidents occurring in 2023
  • 98% of claims ($1.9B in total) from small to medium enterprises (SMEs) with less than $2 billion in annual revenue
  • 2% of claims ($2.0B in total) from large companies with more than $2 billion in annual revenue
  • 2,754 claims due to ransomware, 54% of which occurred between 2021 and 2023
  • 1,714 claims due to business email compromise, 56% of which occurred between 2021 and 2023

Click here to read the full study from our partners at NetDiligence.

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Sincerely,

Michael Beranek
Berkley Crime

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National Practice Leader
Michael Beranek 
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(860) 466-7379
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