topic Re: Cyber Insurance Firms Start Tapping Out as Ransomware Continues to Rise in Tech Talk

Cyber Insurance Firms Start Tapping Out as Ransomware Continues to Rise

dcontesti — Sun, 06 Jun 2021 21:40:09 GMT

Seems that insurance companies are now starting to issue new policies related to Ransomware and are beginning to review their current policies.

https://beta.darkreading.com/risk/cyber-insurance-firms-start-tapping-out-as-ransomware-continues-to-rise

Thoughts?

Re: Cyber Insurance Firms Start Tapping Out as Ransomware Continues to Rise

tmekelburg1 — Mon, 07 Jun 2021 12:42:45 GMT

Makes perfect sense to me. Basically, stopping ransom payments but their polices will still cover recovery efforts and forensics. This could have been the insurance company @Caute_cautim was talking about in his post about ransomware groups targeting insurance companies. At the time it didn't make sense to me as to why they would bite the hand that feeds them, so to speak, but now it makes sense when they publicly state they won't make payments anymore.