Beazley Sees 60 Percent Rise in Breaches Caused by Hacking and Malware

Data breach incidents caused by hacking and malware increased dramatically between 2014 and 2015, according to claim trends collected Beazley, provider of data breach response insurance. The firm also saw a 60 percent increase in data breaches last year, up from 777 in 2014 to 1,249 in 2015, and predicts an exponential rise in ransomware attacks.

In 2015, 32 percent of all claims handled by Beazley’s Breach Response team were caused by hacking or malware compared to 18 percent in 2014. Other causes of loss include unintended disclosure of records at 24 percent (down from 32 percent in 2014) and loss of physical records at an unchanged 16 percent. The fields of healthcare, higher education, and financial services were found to be particularly vulnerable.

Read more at http://www.advisenltd.com/2016/03/15/beazley-sees-60-percent-rise-in-breaches-caused-by-hacking-and-malware/

Erin Ayers, Beazley sees 60 percent rise in breaches caused by hacking and malware (March 15, 2016), available with subscription at Advisen Cyber Front Page News.