Email-Based Attacks Top Cyber-Insurance Claims
DARKReading, Thursday, May 8th, 2025
Cyber-insurance carrier Coalition said business email compromise and funds transfer fraud accounted for 60% of claims in 2024.
Email-based attacks continued to cost enterprises big bucks in 2024, according to new cyber-insurance claims data.
Cyber-insurance carrier Coalition published its "2025 Cyber Claims Report" on May 7, showing that business email compromise (BEC) attacks and fund transfer fraud (FTF) accounted for 60% of all the company's claims last year. BEC attacks were particularly problematic for customers, according to Coalition; claims severity for such threats increased 23%, with incident's costing organizations, on average, $35,000.