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.