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Research and Briefings

Are You Protected Against the Financial Impact of Ransomware?


Ransomware attacks are intensifying in both frequency and severity. Cyber criminals view ransomware as a lucrative business, and are shifting their attack focus to capitalise on the potential for large ransom payments.

The COVID-19 environment creates conditions for more, and more successful, ransomware attacks: phishing emails that leverage pandemic-related topics, and less secure remote cybersecurity environments.

The financial and operational severity of ransomware are also increasing: the size of ransom demands are growing, operational downtime is longer, and remediation is becoming more complex.

Cyber Insurance Can Help You Transfer the Risk

Cyber insurance policies often provide coverage for ransom payments, as well as a wealth of resources and services to help you respond, recover and recoup losses from ransomware.

These include preparation and response support such as incident response planning, employee training, legal and forensic costs, and breach notification services.

These also include balance sheet protection for first- and third-party costs and liabilities such as lost revenue, regulatory fines and penalties, data and hardware restoration and repair, and reputational harm.

Talk to Marsh for Protection Against Ransomware

Marsh’s cyber risk professionals can design a cyber policy tailored to the unique cyber risk profile of your business, with broad coverage for cyber and technology risks including ransomware. 

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.