What Insurers Need to Know About Next-Gen Cyber Threats
Ransomware attacks are expensive, including costs of payment, operational interruptions, data restoration and more.
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.
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.
Insurers and reinsurers are learning to better distinguish what cyber risks are insurable, high-risk but insurable, or uninsurable.
