Aspen Claims Service

Are Cyber Insurance Companies Contributing To Ransomware Attack Growth?

 Wednesday, September 4, 2019

 Live Insurance News

It comes as no surprise to hear that ransomware attacks are on the rise, but new perspectives are connecting this trend with increasing the availability of products from cyber insurance companies.

Essentially, the more organizations are covered against attacks, the more likely criminals are to be paid.

As cyber insurance companies become more commonplace and companies and organizations better understand the importance of coverage, large policies are being purchased.

As a result, when ransomware attacks are made, the funds are available to make payments up to a certain size. Furthermore, that size is growing, depending on the target.
TechnologyExcess & Surplus Lines