Veeam has released its 2023 Ransomware Trends Report which, among its many findings, states that in 93 percent of attacks, threat actors target an organization’s backup files. This targeting is generally successful, disrupting the victim’s ability to recover 75 percent of the time. These results underline the critical importance of robust backup procedures in mitigating ransomware due to the importance attackers place on negating them.

Another key finding from the report is the increased difficulty of using cyber insurance to help mitigate against the threat of ransomware. Twenty one percent of organizations have cyber insurance policies that does not cover ransomware attacks. Costs are shifting as well, with 74 percent of organizations experiencing increased premiums, 43 percent experiencing increased deductibles, and 10 percent experiencing reduced benefits. Read more at HelpNetSecurity.