Cyber-Insurance Fuels Ransomware Payment Surge

Ransomware victims are increasingly falling back on their cyber-insurance providers to pay the ransom when they’re hit with an extortion cyberattack. But security researchers warn that this approach can quickly become problematic.

In the first half of 2020, ransomware attacks accounted for 41 percent of the total number of filed cyber-insurance claims, according to a Cyber Claims Insurance Report released last year by Coalition.

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Source: ThreatPost