Reply to post: You are 100% right, but that's hardly the point of the insurance

The cost of cyber insurance increased 32 per cent last year and shows no signs of easing

Anonymous Coward
Anonymous Coward

You are 100% right, but that's hardly the point of the insurance

It's so that if everything has gone sideways and your systems are thoroughly fucked, you can point a finger bone at someone else arse when you get called into the bosses office the next morning. And if it's not the firms actual money, it's too tempting to be "we already paid for the insurance, it's time to cash in" where they are all to happy to demand the insurer pay ransom even if they suspect it's a rip off.

The insurers need to force companies to keep some skin in the game, like only covering 80% of the negotiated ransom, or not paying ransoms at all and only offering remediation assistance.

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