U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said.
The changes follow a challenging year of hackers using malicious programs, known as ransomware, to take down systems that control everything from hospital billing to manufacturing. They stop only after receiving increasingly hefty payments.
The attacks happened less frequently in 2019, but the problem remains significant, cybersecurity experts said.
