Article ID: 75b4f740528f658c06f8e87fce7f2dad664b1cfa28dddce912fd1a3f9aa1d244
Source ID: secondary:businessinsurance.com
Published At: -
Extraction Method: bs4_heuristic
URL: https://www.businessinsurance.com/small-medium-enterprises-lead-cyber-claims/
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Small, medium enterprises lead cyber claims - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2026 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Small, medium enterprises lead cyber claims by Matthew Lerner Cyber Risks , Emerging Risks , Technology Sep 16, 2026 The majority of cyber claims over a five-year span were from small and medium-sized enterprises but a small portion of claims from larger companies still accounted for a majority of total claims costs. The findings come from a study of 10,309 claims analyzed resulting from incidents occurring from 2021-2025 performed by cyber security company NetDiligence. Most claims, 97% and totaling $2.5 billion, came from small to medium enterprises, or SMEs, with less than $2 billion in annual revenue. Large companies with more than $2 billion in annual revenue, however, accounted for just 3% of claims but totaling $3.2 billion, 56% of the total incident cost analyzed. Among SMEs, there were 381 claims greater than $1million, just 4% of total claims. Large companies had a greater proportion of larger claims, with 92 greater than $1million, constituting 28% of claims. Ransomware was the largest cause of losses at 67% followed by business email compromise at 9%. The top five causes, also including wire transfer fraud and theft of money, accounted for 72% of claims and 88% of all losses, according to report data. There were12 claims greater than $100 million, 68 claims between $10 million and $99 million, and 403 claims between $1 million and $10 million. Ransoms as high as $90 million were paid and there were 59 ransoms paid of more than $10 million. Initial ransom demand ran as high as $500 million, the report said. Related News AIG general insurance CEO Hancock to retire September 16, 2026 Judge allows cyber claims against MGA to proceed September 16, 2026 Marsh names Stadler CEO of Marsh Agency September 16, 2026 Real estate insurance buyers face mixed market: Gallagher September 16, 2026 Hustle culture, meet ‘good enough’ September 16, 2026 Portable benefits gain ground in workers comp legislation: NCCI September 16, 2026 Court upholds denial of comp for nurse’s alleged remote-work injuries September 16, 2026 New captive framework could make the UK a preferred domicile September 16, 2026 Miller launches Malaysia reinsurance business September 16, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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