The Epoch Times Insurance costs have doubled for cybersecurity breaches amid an onslaught of ransomware attacks globally, according to global consultancy AON.
The report, Cyber Insurance Market Insights, found that average premiums rose 113 percent from 2020 to 2021, with AON Australia expecting costs to continue to rise in 2022.
“Ransomware has been, and will continue to be, a plague on organisations and insurers alike, across all industries and segments—equally challenging for small to medium enterprises, as well as large corporates and the public-government sector,” the report stated…
