Insurance claims for mild hybrid electric vehicles jumped 25% in the U.S. and 33% in Canada year-over-year, creating new challenges for insurers and repair shops while potentially affecting future car insurance rates for hybrid owners.
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Manufacturing Cyber Attacks Drive Up Insurance Claims
A five-year analysis reveals that 90% of manufacturing insurance losses come from ransomware attacks, despite representing only 12% of total claims. The cyber security crisis in manufacturing could drive up insurance costs across industries, including auto coverage.