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New data privacy trends help drive growth in frequency and severity of large cyber claims: Allianz

  • Frequency and value of large cyber insurance claims up 14% and 17% year-on-year in the first half of 2024, with data and privacy breach-related elements present in two thirds of these losses
  • Growing trend in the US for class action litigation against large US and international corporations related to privacy violations leads to surging costs
  • Number of cyber claims overall expected to stabilize in 2024 after 30% increase in 2023

SINGAPORE - Media OutReach Newswire - 9 October 2024 - Cyber claims have continued their upwards trend over the past year, driven in large part by a rise in data and privacy breach incidents, Allianz Commercial warns in its annual cyber risk outlook.

More Articles ...

  1. New Fantasy Mobile Game 'Ever Chest' Set to Launch, Sparking a Wave of Chest-Opening Adventures
  2. BEST Cargo Achieves 300% Growth and 100% Nationwide Coverage in Just Two Years
  3. Hong Kong Market Sentiment Improves as Local Banks Follow U.S. Fed Interest Rate Cut
  4. PTT Oil and Retail Business Public Company Limited (OR) Pioneers Path to Carbon Neutrality and Sustainable Development
  5. HKTDC Hong Kong International Lighting Fair (Autumn Edition) and Hong Kong International Outdoor and Tech Light Expo will open this October
  6. Season Opener – CBRE Lantau 2 Peaks: Chan overcomes leg cramps to take overall Mens while Zhu says the watermelon saved her and helped with her victory
  7. Novautek Launches Autonomous Driving Robot to Address Pain Points in Traditional Industries, exhibiting at Inno4life - Creative Culture and Technology Innovation Exhibition
  8. World Economic Forum welcomes "SARABURI SANDBOX LOW CARBON CITY" a new member of Transitioning Industrial Clusters Initiative, accelerating Thailand’s green energy transition
  9. ICONSIAM Wins Asia’s Most Innovative Shopping Experience Award from Cathay Members' Choice Awards 2024
  10. TDCX Malaysia Recognized as Frost & Sullivan’s 2024 Malaysian Customer Experience Management Services Company of the Year Award
  11. GNC Makes a Triumphant Return to Singapore with Watsons Partnership, Revitalising Health and Wellness Offerings
  12. Alcatel-Lucent Enterprise announces partnership with DIGICOM to elevate network and communications solutions in the Philippines
  13. One Bangkok: a transformative urban district opening its doors on 25 October 2024
  14. Google Recognizes P3 as Accredited Android™ Automotive 3PL Vendor for AAOS Compliance / xTS
  15. Guaranteed Next Day Delivery on Shopee: Your Guide to Faster and Smarter Shopping
  16. BEST Inc. Launches DWS System in Malaysia with Nearly RM10million Investment
  17. HSBC Certified Among the Best Places to Work in Thailand for 2024-2025
  18. Aesthetic Medicine & Surgery Conference & Exhibition (AMSC) Hong Kong
  19. 2024 Smart City Expo World Congress · Hangzhou Stage Wraps Up, Driving Global Smart City Collaboration
  20. IGEM 2024 Sets the Stage for Global Collaboration in Green Innovation and Clean Energy

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