Ransomware accounts for 90% of cyber losses in manufacturing, claims data shows
Ransomware accounts for 90% of total financial losses in the manufacturing sector despite representing only 12% of claims by volume, according to insurance claims data published by Resilience.
Ransomware is responsible for 90% of total cyber-related financial losses in the manufacturing sector, despite accounting for only 12% of claim volume by number, according to an analysis of insurance claims data published by Resilience.
The findings indicate that while ransomware incidents are not the most frequently filed claim type, they produce disproportionately large financial losses when they occur. The manufacturing sector’s low tolerance for operational downtime is identified as a contributing factor to loss severity.
Additional findings from the claims dataset include:
- 30% of manufacturing claims are linked to phishing and transfer fraud
- 26% of total losses are associated with multi-factor authentication (MFA) misconfiguration
- 12% of claims involved wrongful data collection
The report identifies MFA misconfiguration as a notable area of exposure, alongside procedural gaps in financial transfer controls. Recommended mitigation measures include auditing MFA deployment, implementing transfer verification procedures, and investing in ransomware containment capabilities.
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