Cybercriminals are increasingly targeting a single point of failure within companies to create large-scale disruption, according to a recent report by Resilience. The analysis highlights how such attacks can have a ripple effect across entire industries.
In 2024, the global average cost of a data breach was estimated at nearly $4.9 million, based on IBM research. However, certain incidents proved to be significantly more damaging.
One of the most costly breaches occurred when UnitedHealth reported a staggering $3.1 billion expenditure in response to a cyberattack on its Change Healthcare subsidiary. This division processes billions of medical claims annually, and the ransomware attack led to prolonged disruptions in the healthcare sector.
“It was the most significant and consequential cyberattack in the history of U.S. health care,” said John Riggi, national advisor for cybersecurity and risk at the American Hospital Association, in a blog post.
Another major incident targeted CDK Global, a software provider for car dealerships across the U.S. The ransomware attack caused financial damages exceeding $1 billion collectively, as estimated by Anderson Economic Group.
The cyberattacks on Change Healthcare and CDK Global exemplify how disruptions in interconnected organizations can have widespread industry consequences, Resilience noted in its report.
According to Resilience’s analysis, third-party risks have become a leading factor in cyber insurance claims, representing 31% of claims filed by its clients in 2024. While a slightly higher percentage (37%) of third-party claims was recorded in 2023, none resulted in material financial losses.
The study also revealed that ransomware attacks targeting vendors have become a “new and significant” contributor to insurance claims, accounting for 18% of such cases.
Although ransomware remained the primary cause of cyber losses in 2024—responsible for 62% of claims—its overall occurrence may be declining. Resilience attributes this trend to cybercriminals shifting focus toward larger, high-profile organizations that offer bigger financial payouts, moving away from the traditional “spray and prey” strategy.
