HOBOKEN, N.J., June 2, 2021 /PRNewswire-PRWeb/ -- A
NYC area cybersecurity expert
alerts readers to disappearing ransomware insurance coverage in a
new article on the eMazzanti Technologies website. The informative
article also explains how coverage is evolving in the face of
rising ransomware attacks.
The author also urges victims not to pay the ransom if attacked.
She goes on to list several best practices to protect against
ransomware attacks and steps to take if one occurs.
"While AXA appears to be the first insurer to deny ransom
payments, the move could signal an impending shift in ransomware
insurance coverage," stated Jennifer
Mazzanti, CEO, eMazzanti Technologies.
Below are a few excerpts from the article, "Ransomware Insurance
Coverage Disappearing, Not Enough for Robust Cybersecurity."
"The AXA announcement comes as ransomware attacks prove an
increasingly lucrative business model. For instance, victims paid
an estimated $350 million in ransom
payments in 2020, over 300 percent more than in 2019. In recent
high-profile cases, Colonial Pipeline paid attackers $4.4 million, and CNA Financial Corporation paid
a whopping $40 million."
Ransomware Insurance Coverage Primer
"Cyber insurance has become a hot topic as organizations
scramble to protect themselves against losses resulting from
cyber-attacks. In addition to ransom negotiations and payments,
typical policies also cover legal costs, as well as costs for
forensic analysis, data restoration and communications related to
the breach."
To Pay or Not to Pay
"This evolution in cyber insurance reflects more than a move by
insurers to manage their own risk. The FBI and other government
agencies, as well as many cybersecurity experts, warn against
paying ransoms. Researchers at cybersecurity provider Kaspersky
explain that paying a ransom provides no guarantee that
organizations will recover their data intact."
Steps to Take if Ransomware Attack Occurs
"At the first indication of a ransomware attack, isolate
impacted systems to contain the incident. Then perform a root cause
analysis and begin to eradicate the infection and rebuild systems,
giving priority to critical areas. Ensure effective communication
throughout the process. This will include both internal and
external teams and law enforcement."
Safeguard Your Organization
Ransomware attacks will continue, and organizations cannot
always depend on cyber insurance to provide adequate protection.
Instead, the best protection also includes implementing
cybersecurity best practices and building a solid incident response
plan. The data security experts at eMazzanti help business leaders
prepare for inevitable ransomware attacks.
Have you read?
Incident Response Plan a Critical Component of Cyber
Security
Secure Wi-Fi Resources and Enable Your Remote Workforce with
eMazzanti's Cyber Security Workshop Replay
About eMazzanti Technologies
eMazzanti's team of trained, certified IT experts rapidly
deliver increased revenue growth, data security and productivity
for clients ranging from law firms to high-end global retailers,
providing advanced retail and payment technology, cloud and mobile
solutions, multi-site implementations, 24×7 outsourced network
management, remote monitoring, and support.
eMazzanti has made the Inc. 5000 list 9X, including eight
consecutive years, is a 4X Microsoft Partner of the Year, the #1
ranked NYC area MSP and NJ
Business of the Year! Contact: 1-866-362-9926, info@emazzanti.net
or http://www.emazzanti.net Twitter: @emazzanti Facebook:
Facebook.com/emazzantitechnologies.
Media Contact
Kent Sorensen, eMazzanti
Technologies, 4803345403, kents@mstar.net
SOURCE eMazzanti Technologies