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.
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.
Insurers seeking profitability in cyber are closing monitoring rate, limits and underwriting.