Cowbell: Global cyberattacks increase while ransomware claims hold steady

By Mia MacGregor

June 9 - (The Insurer) - Cyberattacks are rising globally, although the frequency of ransomware claims remains steady, according to a new report from Cowbell.

Cowbell’s 2025 claims report noted that the volume and sophistication of cyberattacks are rising, driven by AI-enhanced campaigns and a shifting global security environment.

Cowbell’s claims data identified three primary incident types accounting for most reported claims: cybercrime, data breaches and extortion events.

While overall claims frequency has increased across the market, the report noted that ransomware-related incidents have shown a more stable pattern, consistently making up 17% to19% of total Cowbell claims between 2022 and 2024.

During this period, average ransom payments declined by approximately 20.5%, which Cowbell attributed to improved claims management and more effective negotiation strategies in response to ransomware events.

The report highlighted that nearly half of severe ransomware incidents involving known threat actors are linked to five prominent groups: Akira (17.4%), Play (9.2%), LockBit (7.7%), Fog (7.2%) and RansomHub (6.2%).

These groups primarily operate out of Eastern Europe and North Asia, exploiting basic, preventable vulnerabilities such as outdated software, misconfigured email accounts and unpatched network boundaries.

The professional services, educational services, healthcare, construction and manufacturing sectors consistently experience high rates of cyber claims, according to the report.

Cowbell said these industries' reliance on sensitive data and operational continuity makes them vulnerable, requiring proactive coverage and industry-specific risk management strategies.

Cowbell noted that it anticipates a continued rise in targeted attacks, with healthcare, professional services and construction sectors remaining prime targets due to their dependence on continuous operations and sensitive data.

Additionally, Cowbell said that it expects increasing complexity in ransomware and a greater emphasis on preventative measures, with businesses seeking partners who offer proactive tools and resources to actively reduce their cyber risk.