Coalition announced the results of its H1 2021 Cyber Insurance Claims Report. Coalition analyzed claims data through June 2021 from 50,000 customers in the United States and Canada. Coalition’s analysis reveals that ransom demands have grown substantially over the past year, smaller companies are increasingly targeted, and cyber criminals continue to take advantage of dislocations in how we work.
From the first half of 2020 to 2021, the average ransom demand made to Coalition policyholders increased nearly threefold, from $450,000 to $1.2 million per claim. Coalition also observed the emergence of several aggressive new ransomware variants, including Mount Locker, HelloKitty, and Conti. While the average ransom demand steadily increased, the average payout Coalition made for ransomware claims decreased slightly from the first half of 2020 to the first half of 2021, reflective of its efforts to help policyholders negotiate ransoms and recover data backups.