Marsh

66% of organizations worldwide plan to increase their cybersecurity investments in 2026.

26% of organizations worldwide plan to increase their cybersecurity budgets by 25% or more in 2026.

29% of global respondents ranked ransomware attacks and privacy breaches as their leading cyber concerns.

75% of organizations globally express high confidence in their overall cyber risk management strategies.

70% of organizations experienced at least one material third-party cyber incident in the past year.

74% of UK organizations intend to increase their cybersecurity spending over the next 12 months.

Extortion (including ransomware) was the primary cause of cyber losses, accounting for 28% of claims.

Despite the decline from 2023, ransomware claims in 2024 remained approximately double the totals recorded for 2020, 2021, and 2022.

Although the amounts paid by UK ransomware victims continued to rise in 2024, extortion negotiations involving ransomware experts remained generally effective, often resulting in reductions of over 60% from the initial demands to the final payment.

Data breaches accounted for 17% of claims. This includes hostile and accidental external breaches, but excludes extortion.

UK cyber claims in 2024 decreased by 20% compared to the spike seen in 2023.

Despite the 20% decrease from 2023, UK cyber claims in 2024 remained approximately one-third higher than the totals recorded for 2020, 2021, and 2022.

Looking at specific periods, Q3 2024 experienced the second-highest level of activity in cyber claims recorded since 2020. Activity in Q3 2024 rose 14% on Q3 2023.

Ransomware claims in 2024 declined by 31% compared to 2023.

System infiltration accounted for 7% of cyber claims. This excludes extortion and data breach events.

Despite the 20% decrease from 2023, UK cyber claims in 2024 remained approximately one-third higher than the totals recorded for 2020, 2021, and 2022.

Ransomware claims in 2024 declined by 31% compared to 2023.