US cybercrime losses top $20 billion as insurance market faces rising claims

The FBI’s Internet Crime Complaint Center reported that U.S. cyber‑enabled crime losses reached $20.9 billion in 2025, a 26 % jump from the previous year and the first time the total surpassed $20 billion. More than a million complaints were filed, with investment fraud accounting for $8.6 billion, crypto‑related scams $11.36 billion, business‑email compromise $3 billion and older adults (over 60) losing $7.7 billion. The average breach cost in the United States hit a record $10.22 million, double the global average of $4.44 million.

In parallel, the U.S. cyber‑insurance market showed a loss ratio of 53 % in 2025 – the first time it exceeded 50 % since the ransomware surge during the COVID‑19 pandemic. Third‑party claims rose 30 %, premiums were essentially flat, and pricing cuts continued into early 2026. Zurich’s acquisition of Beazley positions it as the leading cyber insurer by direct premiums, while surplus‑lines carriers now write roughly two‑thirds of all cyber‑insurance premium and face growing long‑tail liabilities.