New survey results from Sophos, a provider of cybersecurity as a service, provide interesting data that delineates stand-alone cyber policies from cyber elements in broader policies.
“The study also revealed that ransomware victims with standalone cyber insurance policies are almost four times more likely to pay the ransom to recover encrypted data than those without cyber coverage. 58% of organizations with a standalone cyber insurance policy and had data encrypted in a ransomware attack last year paid the ransom to get their data back. In comparison, 36% of those with cyber as part of a broader insurance policy paid the ransom and 15% of those without cyber insurance.”
Findings from a new research study into the relationship between cybersecurity, cyber insurance, and ransomware
Source: Cyber Insurance Adoption: The Critical Role of Frontline Cyber Defenses