Ransomware Attack Sheds Light On Drastically Underinsured Area

The large-scale global ransomware cyber-attack over the weekend should serve as a wake-up call to many small and medium-sized businesses. While the market for large corporations’ cyber insurance needs has significant penetration, small and medium-sized businesses take out far fewer cyber policies. But as the global ransomware attack illustrated: every business is potentially at risk from cyber criminals. “I think this demonstrates the need for being insured, whether you’re a small or a large company,” NAS chief underwriter Mike Palotay said.