Expert React: Over A Fifth Of Cyber Insurance Does Not Cover Ransomware

BACKGROUND:

Cybereason today released research findings from a global ransomware study of nearly 1,300 security professionals that reveals more than half of organisations have been the victim of a ransomware attack. In the UK specifically, 305 companies were contacted and 84% of businesses that chose to pay a ransom demand suffered a second ransomware attack, often at the hands of the same threat actor group (53%). The survey also found that 54% of UK companies have cyber insurance but a little over a fifth (21.5%) have cyber insurance that does not cover ransomware. 

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Jamie Akhtar
Jamie Akhtar , CEO and Co-founder
InfoSec Expert
June 17, 2021 11:06 am

<p>The ongoing scale of attacks from cybercriminals shows that it is vital that organisations adopt measures to protect themselves. This includes well-known measures such as implementing regular security awareness training, practicing good password hygiene, and keeping software up to date.</p> <p> </p> <p>What is needed now is for insurance companies to provide better incentives so that organisations are encouraged to adopt these security measures in the first place – there is no point getting home insurance and then leaving all the windows and doors unlocked.</p>

Last edited 1 year ago by Jamie Akhtar
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