2023 Mid-Year Cyber Claims Report

The evolution of attacks and a surge in third-party breaches is causing a shift in the cyber risk landscape.

The first half of 2023 saw an upheaval in the cybercrime industry, with threat actors adeptly reacting to changes in their market. Large, third-party incidents such as the MOVEit breaches suggest that ransomware groups are scaling attacks through vendors, which has shifted Resilience’s number one all-time cause of loss and point of failure to third-party risk.  

These trends in claims data demonstrate how rapidly the threat landscape can change. Criminal actors can create their own market forces that directly impact the insurance market, leading to an increase in incidents and a correlating rise in claims.

Overlapping Resilience's claims data with that from other security leaders, we have made five key findings that impact both network defenders and the cyber insurance industry at large. 

Sharing these findings will help our clients and the security community better manage the dynamic challenges of an evolving cyber risk landscape and build a more cyber-resilient society.