Cyber Insurance: Is It the Best Defense Against Paying Cyber Attacks?
The cyber insurance industry has been concerned with the rising costs of cybercrime. The element of the unpredictability of the cybercrime world does not work well for the industry. New coverage and rising renewal rates are significant concerns. Premiums are rising by 10- to 20-fold. Recent research reports show that 70% of cybersecurity professionals believe insurance payments to companies that have paid a ransom exacerbate the problem and cause more attacks. Moreover, cyber insurance companies are targets themselves.
See Also: The State of Vulnerability Management
The question on everyone's mind is - to what extent is cyber insurance fueling ransomware attacks, or is it the best defense against paying ransomware?
The session will cover:
- Changes in the cyber insurance sector
- Questions to ask before seeking insurance
- The role of MDR/XDR in making companies more attractive to insurers
