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Community Champion

Ransomware and increase in cyberinsurance premiums

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-g...

 

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

1 Reply
Highlighted
Community Champion

Re: Ransomware and increase in cyberinsurance premiums


@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-g...

 

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

 

d