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Mock notification in red and yellow that says Your files have been encrypted and giving time left to spend to free them (Photo: Shutterstock)

Cyber claims and losses are on the rise, and one of the most dangerous cybersecurity threats companies face comes from within. Although external attacks result in the most cyber insurance losses, employee mistakes and technical problems result in the most claims by number, according to a new report by Allianz Global Corporate & Speciality (AGCS).

Between 50 and 90 percent of data breaches are caused or abetted by employees, either through simple errors or falling victim to phishing or social engineering, according to the report. Meanwhile, companies are facing increasingly sophisticated and expensive cyber attacks, as hackers are now commercializing malware and selling it to other hackers to target companies and extort ransoms.

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