Ransomware Dominates Large-Scale Cyber Claims, SMEs Under Attack
Cyber threats are evolving, with ransomware remaining the dominant cause of large-scale claims, while small and medium-sized enterprises (SMEs) are increasingly under attack. Retailers have emerged as the most targeted industry in the first half of 2025.
Ransomware accounted for about 60% of claims valued over €1 million in the first half of 2025. Notably, 88% of breaches at SMEs involved ransomware, compared to just 39% at larger enterprises. This shift is due to larger companies strengthening their security measures, making SMEs more attractive targets.
Attackers are now focusing more on data exfiltration, which is often more complex and costly to resolve than encryption. The average global breach cost climbed close to $5 million last year. Basic controls like patching, segmentation, backups, and Multi-Factor Authentication (MFA) can significantly limit damage from these attacks.
Retailers have become the most targeted industry, with supply chain disruption and cloud security incidents on the rise. Social engineering, phishing, and business email compromise remain common tactics, with compromised credentials being the most frequent attack vector. Technical failures and privacy missteps are also accounting for a greater share of claims, with business interruption linked to IT outages and privacy litigation increasing.
As cyber threats shift towards SMEs and become more sophisticated, it's crucial for businesses to strengthen their cybersecurity measures. Implementing basic controls and staying vigilant against social engineering tactics can help mitigate risks. The increasing cost of breaches underscores the importance of robust cybersecurity strategies.
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