April 25, 2024
Daily News
Insurance industry campaign to increase cyber coverage overshadowed by discussion of ransomware
An insurance industry paper aiming to get the facts straight in response to media reports – and policymakers’ concerns – that cyber insurance may contribute to the growth in ransomware attacks also takes care to reassure the market: claims are paid.
“What do the critics get right? Just one important point: Cyber insurance pays claims,” Matthew McCabe, senior vice president and assistant general counsel for cyber policy at global insurance firm Marsh, wrote in the new report.
The insurance...