Ransomware seems to be popping up everywhere in news headlines throughout the world. One day, a meat packing plant is getting hacked, next an airline, a huge part of the eastern United States oil supply pipeline, and even a mega attack where a software firm put thousands of its customers at risk. We all hope that we are not next in this unfortunate news cycle. Is there hope? Many within the cyber security field are trying to build the latest and greatest countermeasures, but there is another industry element worth investigating - that of the insurance world and cyber insurance.
Cyber insurance can be useful as it can pay out if and when you have a ransomware attack. One might look at this as a reactive measure, but there are benefits such as covering profit losses, liabilities, and lawsuits. It won't cover such things as a loss of intellectual property and physical property, though.
Is cyber insurance right for you? Learn more about the benefits and challenges of cyber insurance for your business. Take a look at the following infographic below:
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