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Stock impact report

Rethinking Cyber Insurance: Three Challenges To Overcome [Forbes]

Arthur J. Gallagher & Co. (AJG) 
Last arthur j. gallagher & co. earnings: 4/30 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.ajg.com/investor-overview
Company Research Source: Forbes
Cyber threats and breaches are continuing to skyrocket for all organizations, but companies with over $100 million in revenue are , according to an October 2024 report from the National Association of Insurance Commissioners (NAIC). In 2023, there was a 20% increase in the number of cyber insurance claims and a 72% increase in claims severity compared to the second half of 2022. Small business owners, however, also can't afford to ignore cyber threats, especially as the cost and technical sophistication needed to manage cybersecurity continues to grow. As we see more by smaller businesses, for instance, it has materially expanded the attack surface, requiring stricter controls and continuous monitoring. PROMOTED Likewise, the transition to generative AI (GenAI) presents more complexity as companies are in a hurry to increase productivity at the expense of security, creating new exposures and vulnerabilities. According to McKinsey, have adopted GenAI as of May 2024, and half of Show less Read more
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