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 capitalize 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.