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flag Ransomware outages last 24 days on average, costing $2.7M, far exceeding board expectations despite preparedness gaps.

flag A new Willis report based on 4,650 cyber claims reveals a widening gap between board confidence and reality, with ransomware outages lasting a median of 24 days—far longer than the days boards expect—costing an average of $2.7 million. flag Nearly half of breaches stem from vendors, exposing weaknesses in contracts and oversight. flag Despite most boards having response plans, only 68% tested them in the past year, and regulators now demand proof of effectiveness. flag Publicly traded firms, though fewer in number, account for 36% of losses, with one claim reaching $331 million. flag Rising threats include deepfakes and generative malware, while new EU, U.S., and Hong Kong regulations increase accountability. flag Experts urge ransomware simulations, vendor analytics, and AI governance to align preparedness with actual risk.

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