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Organisations cannot rely on cyber insurance to cover losses

June 16, 2021

Ransomware attacks spurred close to half of all the cyber insurance claims filed in North America in the first six months of 2020, but even if a victim’s policy covers ransomware – which is not a given – there is no guarantee that insurers will underwrite the full cost of an incident, and such policies must not be relied upon to do so.

That is according to a newly released report from Cybereason, which examined the consequences and costs of ransomware attacks based on input from more than 1,000 security leaders based in France, Germany, Singapore, Spain, the UAE, the UK and the US.

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