Through the first half of 2023, cyber insurance rates increased an average of 3.9%, data from Swiss Re showed, continuing a trend of rate moderation that has been accelerating since the start of the year. The first half of the year also saw cyber insurance claims ticked up 12%, driven by an increase in ransomware and funds transfer fraud, while claims severity increased 42% with an average loss amount of more than $115,000, according to Coalition, Inc. "The cyberthreat landscape has become more volatile, and, as a result, we've seen claims become more severe and more common than ever," Chris Hendricks, head of Coalition Incident Response, said in a release. "To help prevent these costly and disruptive incidents, organizations need to take an active role in improving their security defenses and make risk management a top priority." The above slideshow reviews some of the biggest cyber insurance misconceptions to share with clients so they are better able to manage digital risks. Related: Cyberattacks are accelerating with AI's help Remote work: Make cybersecurity a top priority, say data security pros Major New England health insurer impacted by cybersecurity attack