Tech Talk

Are days of hasty ransomware payouts numbered?

As insurers tighten policy coverage, firms may have to relook overall cyber defence and insurance strategies.

Moving forward, companies may need to look at cyber insurance coverage through new lenses, says the writer. PHOTO: ST FILE
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Ransom notes from hackers have brought many large organisations, some running critical infrastructure, to their knees. Enforcement agencies are not the only ones worried. Insurers are too.

These notes demand ransom in exchange for a decryption key to unlock compromised systems or for not exposing any stolen data. By the time the note is delivered, malware would have infiltrated the target corporate network, with confidential data exfiltrated.

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