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Cyber Insurance Pays Back Only App. 60% of Ransomware Costs & Then Rates Go Up

Posted on July 17, 2021July 26, 2021 By Mark Sauter

There’s grim news in a new survey from cloud vendor Cloudian and Sapio Research: Cyber insurance only pays about 60% of costs from ransomware attacks — and paying ransoms often does not result in the return of most data.

Most companies see their cyber insurance rates climb some 25% after a ransomware attack.

Get the study here.

In many cases, companies victimized by ransomware attacks have had software and training, including anti-phishing, in place before the attack. In our opinion, this demonstrates the weakness in “check-the-box” risk mitigation programs by customers when it comes to underwriting ransomware insurance.

Read the Cloudian release and summary of the report here.

Cyber Insurance Premiums, Cyber Insurance Reports, Ransomware Insurance Tags:anti-phishing training, cyber insurance rates, phishing, Ransomware Insurance, training

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