The cyber insurance industry, too, is a prime target for crooks seeking its customers’ identities and scope of coverage. As a percentage of premiums collected, cyber insurance payouts now top 70 per cent, the break-even point. Thibault Camus/AP The cyber insurance industry, once a profitable niche, is now in the crosshairs of ransomware criminals. Company spokeswoman Kelli Murray would not say if any cyber insurance policy contracts were on compromised servers. Jan Lemnitzer, a Copenhagen Business School lecturer, thinks cyber insurance should be compulsory for businesses large and small, just as everyone who drives must have car insurance and seat belts.

Source: Stuff July 05, 2021 05:48 UTC