A Cyber Insurer's Perspective on How to Avoid Ransomware

This report summarizes a rebound in ransomware during 1H 2023 with a 27% rise in frequency and record severity (average loss > $365,000 and average ransom demand $1.62M). It calls out Royal ransomware activity and the Cl0p campaign that exploited a MOVEit zero-day to exfiltrate and publish data from hundreds of organizations, and recommends offline backups, timely patching, and reducing attack surface to mitigate risk.