What Insurers Need to Know About Next-Gen Cyber Threats
Some cyber intrusions result in full-fledged data breaches, which trigger mandatory regulatory and legal responses.
Insurers seeking profitability in cyber are closing monitoring rate, limits and underwriting.
Cyber intruders are using the experience of early ransomware efforts to design deeper, multi-layered attacks that combine holding data hostage with the possibility of intentional breaches.
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.
The decision to pay or reject ransom demands is a complicated mix of identifying the source, evaluating backup plans and remaining compliant.
