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LockBit 2.0 ransomware takeover screen from FBI flash “For insurance companies specifically, we saw a 13% increase in ransomware attacks in Q1,” says Crane Hassold, Abnormal Security’s director of threat intelligence. (Credit: FBI cyber division)

The first quarter of 2022 closed with businesses seeing a 25% decline in the total number of ransomware attacks compared with the prior quarter, according to Abnormal Security Corp. However, the financial service industry, including insurance, saw no such relief as the total sector saw attacks grow 35% quarter-on-quarter and 75% year-on-year.

Insurers saw a 13% increase in ransomware attacks during the first quarter, according to Crane Hassold, Abnormal Security’s director of threat intelligence,” who tells PropertyCasualty360.com that the financial service industry was the only sector that saw a net increase in overall ransomware attacks in Q1 2022.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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