Happy Wednesday! In this week's Big I Buzz we discuss the rise of cybercrime claims in the US, and the 2024 wildfire season forecast.

Cyber Crime ‘A Thriving Business,’ as US Claims Frequency Rises

A new report by Coalition shows that Cyber claims frequency in the U.S. rose 13% last year. The 2024 Cyber Claims Report, which includes data and case studies from organizations across the country, portrays cybercrime as “a thriving business that adversely impacts” the economy. In 2023, there were more than 880,000 complaints sent to the Federal Bureau of Investigation with complaints of cybercrime and reported losses totaling $12.5 billion, according to the report. Although overall claims severity decreased in the latter half of the year, it did not offset a first-half spike driven by increased ransomware claims, the report shows. Read more here.

2024 Wildfire Forecast Calls for ‘Below Average’ Season

AccuWeather's 2024 forecast suggests that the upcoming wildfire season is anticipated to exhibit below-average fire occurrences and acreage consumed compared to historical records. Projections indicate a range of 4 to 6 million acres to be burnt this year, significantly lower than the usual 7 million-acre benchmark. However, fire activity is expected to hover around or exceed typical levels for the number of fires, particularly in Canada, where acreage burned is expected to surpass historical averages. Consequently, air quality deterioration across Canada and the northern United States during summer may pose challenges for outdoor activities, particularly for individuals with respiratory ailments. Read more here.

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list.