Ransomware claims are roiling an entire segment of the insurance industry

The majority of insurance companies are raising premiums for plans that cover damage from hacks, including ransomware attacks. Prices for at least half of insurance buyers went up 10 percent to 30 percent in late 2020, according to a survey cited by the U.S. Government Accountability Office. In some cases, annual premiums that companies are expected to pay have increased by as much as 50 percent, said Joshua Motta, founder of insurance tech company Coalition.

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