Businesses are increasingly concerned about how they will meet ransomware demands. Only 19 percent of those surveyed have ransomware coverage limits above $600,000, while over half (59 percent) hoped the government would cover damages when future attacks are linked to other nation-states, according to BlackBerry Limited and Corvus Insurance.
SMBs, who have become a favorite criminal target, are especially feeling the heat. Of businesses with under 1,500 employees, only 14 percent have a coverage limit in excess of $600,000. A recent Forrester report estimated that a typical data breach would cost the average organization $2.4 million to investigate and recover. Perhaps unsurprisingly, 50 percent of SMB respondents hoped the government would increase financial aid in all ransomware incidents.
