Insurance carriers and cyber claims professionals, too, should understand that cyber business interruption is frequently one of the largest components of cyber-related financial losses and insurance claims.
Ransomware has become a persistent business risk that fiduciaries, receivers, and restructuring professionals must address in every engagement.
According to Cybersecurity Ventures, ransomware damages are expected to reach $74 billion USD in 2026 and surpass $275 USD billion globally by 2031.
Cyberattacks can halt production, disrupt supply chains, disable critical systems, and cause substantial business interruption and additional expense losses.
The costs of a cybersecurity attack include lost revenue from customers and new leads, as well as from being offline.