Security News > 2021 > July > When it comes to incident response, is your cyberinsurance carrier on your side?
Just as security leaders and pros are firming up their policies and strategies to secure hybrid work for the foreseeable future-they get hit with an all-out assault of ransomware attacks.
After a year of pandemic-related disruption and an uptick in ransomware and serious cyberattacks of all kinds-just as security leaders and professionals are firming up their policies and strategies to secure hybrid work for the foreseeable future -they get hit with an all-out assault of ransomware attacks.
If it's a ransomware attack, this process may take longer and require more resources and decisions-many of which may be dictated not by a company's security leader or senior executives but by the insurance carrier.
To ensure an insurance claim can be made in the aftermath of a breach or attack, many cyberinsurance carriers are now requiring involvement in every step of the incident response process, including ransomware negotiations and payment decisions.
Some insurers may even drop ransomware coverage for select industries or geographies, as AXA just did in France, in an effort to cut the flow of cash to attackers who bank on payments and to shore up losses.
This research will lay out a set of cyberinsurance-related considerations that security leaders and their executive teams should discuss as they assess their readiness for and response to a disaster in the form of a breach or attack.