What Insurers Need to Know About Next-Gen Cyber Threats
The decision to pay or reject ransom demands is a complicated mix of identifying the source, evaluating backup plans and remaining compliant.
Some cyber intrusions result in full-fledged data breaches, which trigger mandatory regulatory and legal responses.
Ransomware developers have begun selling their software to would-be peers, making it more difficult to identify the source by the characteristics of the attacking software.
Insurers writing cyber coverage look to their reinsurer for trends, perspective on risk accumulation, and risk management resources.
Insurers seeking profitability in cyber are closing monitoring rate, limits and underwriting.
