<img height="1" width="1" style="display:none;" alt="" src="https://px.ads.linkedin.com/collect/?pid=1354242&amp;fmt=gif">

[WHITEPAPER] The Broker's Guide to Ransomware

Get up to speed on the basics of the biggest new threat to cybersecurity for your clients.

Understanding Ransomware

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.

Recent Articles

Women in Cyber: Advice from the Field


In honor of Women’s History Month, we connected with women making significant contributions to cyber to collect career advice, lessons from the field, and...

Law Enforcement Can Help in a Cyber Crisis — But Prevention is Even Better


Law enforcement is thwarting threat actors on the dark web. But what can organizations do to lay a strong security foundation (with or without the FBI's...

What’s Next in Tech E&O: What Corvus Underwriters Are Seeing


Corvus’s Tech E&O underwriters are keeping an eye on what’s next for the Tech E&O market. Learn more about their insights.