[WHITEPAPER] The Broker's Guide to Ransomware
Get up to speed on the basics of the biggest new threat to cybersecurity for your clients.
At its core, “ransomware” is a category of cyberattack in which criminal endeavors to lock up (through encryption) files or devices that are critical to an organization, and demands a ransom payment in exchange for the return of control over the encrypted property.
A Rise in Cyber Threats
In 2019, reports showed dramatic increases in overall ransomware attacks, including a 118% increase through the first quarter of 2019 by one count and a 363% increase through the first half of 2019 by another. The trend has not gone unnoticed. High-profile attacks on hospital systems and municipal governments, such as the cities of Baltimore and New Orleans, have grabbed the most headlines. But no industry or type of organization is immune. Attack trends will shift to wherever there appears to be fertile ground.
Cyber Insurance can be a solution to transferring that risk and mitigating the risk of an attack thanks to value-added services attached to cyber policies. By gaining a better understanding of ransomware, brokers can confidently advise their clients on appropriate cyber coverage, risk mitigation services, and how to develop a response plan.
Download the Whitepaper
This whitepaper will cover the basics that brokers should understand about the risk ransomware presents to their clients, as well as how insurance policies respond to ransomware and how to offer the best coverage.
Ready to read more? Download here→
On January 5th, we hosted a webinar with Lynn Sessions and Paul Karlsgodt of BakerHostetler to discuss pixel tracking technology, the culprit behind the latest ad tech litigation and regulatory trend. Below is an exploration of prior and current website tracking litigation, and how it may impact non-regulated industries.
At its best, insurance helps businesses manage and mitigate the risks they worry about most, and helps make everyone safer along the way. The data insurers have on effective interventions — and the lever of pricing to guide policyholders’ actions — are a powerful combination. Over time, the insurance industry has helped make buildings, work sites, and transportation safer – the key uncertainties people cared about.