What Insurers Need to Know About Next-Gen Cyber Threats
Insureds seeking carrier or coverage or insurers seeking reinsurance face the same challenges: demonstrating security controls, training and concentration of risk.
Ransomware attacks are expensive, including costs of payment, operational interruptions, data restoration and more.
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.
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.
Some cyber intrusions result in full-fledged data breaches, which trigger mandatory regulatory and legal responses.
