Who's a "Radioactive" Customer for Cyber Insurers? Law Firms

“Law firms have this treasure trove of information. Statistically, they’re about six times more likely to pay the first ransom demanded, rather than negotiate it…and I have to tell them, months in advance of their renewal, that their premium is going to shoot up. I had one law firm client whose premium went from about $4,000 to $36,000.”

Source: Law firms are a “fully radioactive class of risk” | Insurance Business Canada

Mark Sauter

Mark Sauter’s insights on the financial, policy and security elements of cyber insurance are based on years of experience in the investment banking, media and business worlds. Co-author of the McGraw Hill university textbook “Homeland Security: a Complete Guide,” Sauter was also a consultant to one of the world’s largest software companies and served as a US Army Special Forces and infantry officer.