Ransomware and increase in cyberinsurance premiums

Caute_cautim — Mon, 09 Oct 2023 09:26:10 GMT

Hi All

We predicted this might happen this year - it appears it is actually happening:

https://www.cpomagazine.com/cyber-security/ransomware-attacks-are-causing-cyber-insurance-rates-to-go-through-the-roof-premiums-up-as-much-as-25-percent/?utm_campaign=coschedule&utm_source=linkedin_company&utm_medium=CPO%20Magazine&utm_content=Ransomware%20Attacks%20Are%20Causing%20Cyber%20Insurance%20Rates%20to%20Go%20Through%20the%20Roof%3B%20Premiums%20up%20as%20Much%20as%2025%20Percent

Of course Cyber insurance companies want the client to pay the extortionist, this then increases the premiums the client has to be pay for not being prepared the first time around.

Will it get worst?

Regards

Caute_cautim

Re: Ransomware and increase in cyberinsurance premiums

dcontesti — Wed, 12 Feb 2020 10:24:02 GMT

@Caute_cautim wrote:
Hi All
We predicted this might happen this year - it appears it is actually happening:

https://www.cpomagazine.com/cyber-security/ransomware-attacks-are-causing-cyber-insurance-rates-to-go-through-the-roof-premiums-up-as-much-as-25-percent/?utm_campaign=coschedule&utm_source=linkedin_company&utm_medium=CPO%20Magazine&utm_content=Ransomware%20Attacks%20Are%20Causing%20Cyber%20Insurance%20Rates%20to%20Go%20Through%20the%20Roof%3B%20Premiums%20up%20as%20Much%20as%2025%20Percent

Of course Cyber insurance companies want the client to pay the extortionist, this then increases the premiums the client has to be pay for not being prepared the first time around.

Will it get worst?

Regards

Caute_cautim

I suspect it will get worse instead of better. It's like a few years ago when we saw a tremendous jump in the number of virus' coming at us on a daily basis.....sometimes five and six virus' a day and those kept morphing into something new.

So personally, I think, once folk stop paying the Ransom's and take all the steps that we previously outlined, the criminals, might get tired and move on.............;(. Now them moving on may be even more frightening....

Regards

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Ransomware and increase in cyberinsurance premiums

Re: Ransomware and increase in cyberinsurance premiums