Claims and Loss Trends
Key Takeaways
Commentary: Claims continue to centre on fraud, operational control failures, and external hacks - areas where insurer trust is earned, not assumed.
Insurer Observations:
Headline Trends (2024):
Many claims are uninsured or underinsured due to structural or contractual gaps.
USD 2.2 billion – in total value lost to hacks
USD 75 million – single largest ransomware payout
USD 14 million – average hack value
USD 10 billion – total fraud losses reported (globally)
