Yes, says Veeam’s survey of 1,2000 IT pros from companies hit by ransomware last year. In 2022, “77% of ransoms were paid by insurance, but that is becoming harder and more expensive…In fact, 21% of organizations stated that ransomware was now specifically excluded from their policies. While those with cyber insurance saw changes in their last policy renewals:
*74% saw increased premiums
*43% saw increased deductibles
*10% saw coverage benefits reduced”
The survey also notes that a quarter of respondents who paid ransoms were still unable to recover their data.
The 2023 Ransomware Trends Report is a global analysis of the impact ransomware attacks have on IT organizations today. Read the report to learn if ransomware attacks are increasing, if cyber insurance is helping, and how backups can serve as your best line of defense against ransomware attacks
Source: 2023 Ransomware Trends Report