Human Error Drives Cyber Insurance Claims, Data Shows
Human Error Drives Cyber Insurance Claims, Data Shows Insurance company CFC Underwriting, which conducts business in over 80 countries, reported that human error plays a part in the vast majority of cyber insurance claims. CFC Underwritingreported that in 2018 the company responded to over 1,000 cyber insurance claims comprised of data breaches, theft of funds, ransomware and extortion, malware and more. In Canada alone, CFC Underwriting said that 32% of cyber insurance claims were about ransomware and extortion, 24% about non-malicious data breach, 20% about malicious data breach, 9% about theft of funds, 9% about malware and 6% referring to other cyber incidents. "Whether a business suffers a data breach, a ransomware attack, or accidentally sends money to a fraudulent bank account, human error plays a part…