Resilience report highlights financial impact of ransomware on manufacturing

As reported by Security Week, a new analysis from Resilience, a firm specializing in insurance and risk decision support, quantifies the financial losses associated with specific cyber threats, particularly ransomware, within the manufacturing sector.

The report, drawing on insurance claims data from March 2021 to February 2026, reveals that ransomware accounts for 90% of incurred losses despite representing only 12% of claims in the manufacturing industry, which is the most targeted sector. Key failure points identified include software vulnerability exploits, contributing 13% of losses, underscoring the need for improved patching. More significantly, multi-factor authentication (MFA) misconfigurations are responsible for 26% of financial losses, a figure double that of exploit losses and a primary enabler of major ransomware attacks like one attributed to BlackCat.

The analysis also notes that transfer fraud and email compromise, often stemming from phishing and credential compromise, constitute 30% of claims. Resilience recommends continuous MFA validation, enhanced monitoring, and out-of-band confirmations for financial transactions to mitigate these risks.

Source: Security Week