Those who have cybersecurity insurance should investigate the details of cover and terms against cyber breeches and ransomware attacks.
Strict conditions and rule changes are speculated due to the high volume of claims; as a result the conversation has shifted from looking to reduce cover, to being eligible for cover but the key to creating “business resilience” lies beyond insurance.
I believe cyber insurance can support these unfortunate events however the crucial fact is the funds from claims may still mean your organisation won’t be able to operate if the proper practices and measures have not been put into effect to secure and protect data and systems from a ransomware attack.
A good defence strategy is to have a clean and secure backup of your data and an isolated cyber recovery environment to enable a safer recovery to be possible.
The following are a few tips of what insurers are looking for as good measures for backups:
If you would like to learn more about how Ultima can support with your ransomware protection, we are offering you a free Ransomware Readiness Assessment to discuss how you can secure & protect your backup data to mitigate risks from a ransomware attack.