Cyber Insurance & ransomware

What’s happening? last year there was a 400% increase in ransomware. Cyber Insurance payouts top 70% of break even.

Why is this important? This means it is no longer not cheaper to not pay the criminals. Now the insurers pay the criminals.

How will this be important? Commerical premiums jumped 39% in March 2021. This is an intersection of a lot of funds and hackers.

AP | In crosshairs of ransomware crooks, cyber insurers struggle