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Overview of NetDiligence's 2025 Cyber Claims Study

NetDiligence®, a foremost provider of cyber risk management solutions, has released its comprehensive 2025 Cyber Claims Study, marking a significant milestone as it enters its fifteenth year. This extensive report analyzes 10,402 cyber insurance claims arising from incidents between 2020 and 2024, providing invaluable insights for cyber insurers, brokers, legal experts, and risk managers. This year’s study is particularly notable for its foundation built on real-world data, helping industry professionals understand the profound impacts of cyber events.

Key Insights

The report encapsulates several key findings that reflect the evolving nature of cyber threats:

• - Total Claims Analyzed: 10,402 claims documented.
• - New Claims in 2025: 4,108 new claims, with 1,691 stemming from incidents occurring in 2024.
• - Claims Meeting Thresholds: 9,171 claims exceeded the $1,000 threshold in total incident cost.
• - Main Causes of Loss: Ransomware attacks and Business Email Compromise (BEC) continue to dominate.
• - Rising Costs: Recovery and business interruption costs have escalated, particularly impacting small to medium enterprises (SMEs).

Mark Greisiger, President of NetDiligence, stated, “The 2025 report highlights how the repercussions of cyber threats are continually evolving. By aggregating and analyzing thousands of real claims, we aid the industry in moving beyond speculation, offering clarity in response to cyber risks.”

Contributions to the Dataset

The data for the 2025 study was enriched by collaborations with leading cyber insurers, drawing insights from organizations with revenues ranging from under $12,000 to exceeding $230 billion. This breadth of data enables nuanced analyses across various sectors, revenue categories, causes of loss, and the types of data affected by cyber incidents.

SMEs versus Large Enterprises
As in previous years, small to medium-sized enterprises constituted the majority of claims; however, large firms, while representing only 2% of the dataset, accounted for over half of the total incident costs—attributable to the complexity and scale of their operations. Across all claim categories, expenses related to legal services, crisis management, recovery, and business interruptions remained significant, with some business interruption costs surpassing $1 million.

The 2025 study notably tracks the rising incidents associated with third-party breaches, complicating the landscape and increasing the volume of claims.

Noteworthy Additions in the 2025 Report

This year’s dataset includes substantial updates and newly identified claims:

• - Expanded 2024 incident data, collected and validated in early 2025.
• - An addition of over 1,100 identified claims from previous years (2022-2023).
• - A consistent $1,000 cost threshold for clearer year-over-year comparisons.

These enhancements position the 2025 Cyber Claims Study as the most thorough and informative dataset available thus far in the industry.

Participation and Access

For cyber insurers interested in contributing data to next year's study, NetDiligence invites inquiries via email at [email protected].

Participants in the study and clients of eRiskHub® can access the complete study, along with sector-specific companion reports through their respective portals. Additional tools and resources based on the findings are also accessible within eRiskHub, further aiding stakeholders in navigating the complex landscape of cyber risk management.

About NetDiligence®

NetDiligence has been a trusted name in cyber risk management for over two decades, providing innovative solutions such as the eRiskHub® portal, Breach Plan Connect®, and hosting the Cyber Risk Summit conference series. The Cyber Claims Study stands as the industry's premier benchmarking resource, reflecting real-world cyber incidents and losses, helping organizations mitigate risks effectively.