Cybersecurity
Cyber Insurance Premiums Surge by 50% as Ransomware Attacks Increase
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US cyber insurance premiums surged 50% in 2022 as increased ransomware attacks and online commerce drove demand for coverage.
Premiums collected from policies written by insurers reached $7.2 billion in 2022 and tripled in the past three years, ratings firm AM Best said in a study released this week.