Ongoing quarterly series examines proprietary claims data on the Chubb Cyber IndexSM
WHITEHOUSE STATION, N.J., Dec. 20, 2018 /PRNewswire/ -- According to the latest Chubb Cyber InFocus Report, retailers typically see a 35% increase in the number of cyber attacks during the holiday season. And the risks are not lessening over time — there has been a 116% increase of reported retail cyber claims since 2011.
Chubb's quarterly Cyber InFocus report first launched in early 2018 and is designed to provide insights into the effects of cyber risks and trends on specific industries each quarter. Chubb's data is backed by more than two decades of cyber claims data and experience.
"While cyber risks are on the rise, the nature of each risk differs greatly by industry and by company," said Michael Tanenbaum, Executive Vice President, North America Financial Lines, Chubb. "With more than two decades of cyber claims data, Chubb is able to help clients gain deeper insights into the risks that most affect their specific organization and industry."
In addition to highlighting seasonal risks within the retail industry, this quarter's Cyber InFocus Report examines:
- the rise of credit card breaches as email phishing attacks increase;
- the dangers of Distributed Denial of Service (DDoS) attacks; and,
- how the Children's Online Privacy Protection Act (COPPA) affects businesses.
"We are constantly assessing our claims data in order to provide the best guidance to our clients on the trends affecting their organizations," said Anthony Dolce, Vice President, Cyber Lead, Chubb North America Financial Lines Claims. "The Cyber InFocus Reports are just one of the ways we help our clients understand their exposures, so they can better develop risk -mitigation strategies to reduce the impact to their businesses."
Visit www.chubb.com/cyber to read this quarter's Chubb Cyber InFocus Report, reports from previous quarters, as well as real-time access to Chubb's proprietary cyber claims data, and a host of additional cyber insights.
Chubb is the world's largest publicly traded property and casualty insurance company, and the largest commercial insurer in the United States. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.