Good point about the cyber-insurance aspect of things perpetuating the problem.
I don’t have hard data but I believe this will be a thing of the past soon enough. With ransomware being so common an issue now & the requirements to obtain said insurance getting harder to meet, I could see that not being a viable or cost-effective solution to restoring service.
I hope you’re right that it does phase out. Here is evidence that having cyber insurance makes you more of a target.
DS: Do your operators target organizations that have cyber insurance?
UNK: Yes, this is one of the tastiest morsels. Especially to hack the insurers first—to get their customer base and work in a targeted way from there. And after you go through the list, then hit the insurer themselves.
Good point about the cyber-insurance aspect of things perpetuating the problem.
I don’t have hard data but I believe this will be a thing of the past soon enough. With ransomware being so common an issue now & the requirements to obtain said insurance getting harder to meet, I could see that not being a viable or cost-effective solution to restoring service.
I hope you’re right that it does phase out. Here is evidence that having cyber insurance makes you more of a target.
DS: Do your operators target organizations that have cyber insurance?
UNK: Yes, this is one of the tastiest morsels. Especially to hack the insurers first—to get their customer base and work in a targeted way from there. And after you go through the list, then hit the insurer themselves.
Interview
That is an excellent interview … Thanks for sharing.
That certainly adds to the whole problem with payouts.