What Insurers Need to Know About Next-Gen Cyber Threats
Ransomware attacks are expensive, including costs of payment, operational interruptions, data restoration and more.
Insurers writing cyber coverage look to their reinsurer for trends, perspective on risk accumulation, and risk management resources.
Insureds seeking carrier or coverage or insurers seeking reinsurance face the same challenges: demonstrating security controls, training and concentration of risk.
The decision to pay or reject ransom demands is a complicated mix of identifying the source, evaluating backup plans and remaining compliant.
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.
