New Claims Report finds attackers utilizing more sophisticated, dangerous tactics and techniques

The events of the last year radically shifted the nature of work. The rush to adapt to remote work combined with an increased reliance on technology fueled another change — cybercriminals capitalized on the shift in the cyber landscape to exploit technologies, target new industries, and make existing attack techniques more successful. Now more than ever, organizations large and small face the crucial task of addressing cyber risk. Our H1 2021 Cyber Insurance Claims Report analyzed claims data through June 2021 from customers in the United States and Canada and found that attackers utilized a variety of attack techniques to compromise a wide range of organizations.

Our visibility into cyber incidents comes from three primary sources: our policyholders reporting incidents and claims, data the National Association of Insurance Commissioners (NAIC) shares with us, and finally, from the tens of thousands of insurance applications we receive each year. This is our second year compiling data to assess trends in cyber insurance.

Understanding the tactics and techniques that threat actors employ to gain access to an organization is essential to creating an effective cybersecurity program. Three new trends: insecure remote access, supply chain attacks, and an increased risk for small and midsize businesses have the potential to be especially devastating for organizations if they are not addressed and mitigated.