Ransomware Attacks Drive a Surge in Cyber Insurance Claims

Cowbell Cyber's report shows a 40% surge in cyber insurance claims amid declining US cyber insurance premiums, with ransomware comprising 19% of claims while average ransom payments dropped ~44%; the most common incidents are data breaches, cybercrime (phishing/BEC), and extortion, and social engineering—amplified by AI—remains the primary initial access vector, with MFA, employee training, and rapid response recommended as key defenses.