Security News > 2022 > June > Do You Have Ransomware Insurance? Look at the Fine Print

Insurance exists to protect the insured party against catastrophe, but the insurer needs protection so that its policies are not abused - and that's where the fine print comes in.

In the case of ransomware insurance, the fine print is becoming contentious and arguably undermining the usefulness of ransomware insurance.

In this article, we'll outline why, particularly given the current climate, war exclusion clauses are increasingly rendering ransomware insurance of reduced value - and why your organization should focus on protecting itself instead. What is ransomware insurance.

In recent years, ransomware insurance has grown as a product field because organizations are trying to buy protection against the catastrophic effects of a successful ransomware attack.

Within ransomware insurance, the fine print would make some reasonable requests.

Any ransomware insurance policy will have minimum cybersecurity requirements in place - conditions you need to meet to ensure your policy pays out.

News URL

https://thehackernews.com/2022/06/do-you-have-ransomware-insurance-look.html