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The cyber insurance landscape is evolving rapidly, driven by a surge in claims, particularly within the education sector. Active adversaries specializing in ransomware attacks are increasingly targeting educational institutions. In fact, in the U.S., 56% of K-12 and 68% of Higher Ed experienced significant impacts from ransomware in the last year.
Even though most institutions already have some cyber insurance, they're discovering that the cybersecurity standards for qualification have risen. Policies are also getting more complicated, and premiums are on the rise.
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