The expansion, some might say invasion, of technology into our daily lives has led to the creation of a new crime, committed by skilled criminals who not only steal information stored on computers, but also are now holding computer systems hostage through the use of Ransomware.  We often hear “we don’t have HIPPA or personal information in our computers so we don’t need Cyber Event Insurance.”  Well, the cyber criminals have evolved an even more wicked bunch and are now holding computers systems hostage.  Here are some interesting stats to highlight the reason why you need to add Cyber Event Insurance to your insurance program today:

Top Ransomware Statistics

  • Ransomware perpetrators carry out more than 4,000 attacks daily
  • 1 in 3,000 emails that pass through filters contains malware
  • On average, organizations pay a ransom of $233,217
  • There’s a 19-day downtime following a ransomware attack
  • 95 new ransomware crime syndicates were discovered in 2019
  • In 2021, ransomware attacks against businesses will occur every 11 seconds
  • The global cost associated with ransomware recovery will exceed $20 billion in 2021

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