“The financial impact of a ransomware attack is multifaceted, and goes wellbeyond the ransom payment,”
“Business interruption, revenue loss, potential exposure of sensitive
data and related third-party liability, forensics and restoration expertise, and
finally breach coaching and ransomware negotiations, can all be covered in a
cyber-insurance policy.”
“Not only does making a ransomware payment also place an organization in a
potentially questionable legal situation, it is proving to the cybercriminals you
have funded their recent expedition,”
The rise in the practice of Businesses paying to recover compromised data is leading to the rise in the ransom world wide. Insurance also does not cover 100% of the loss.