There is literally no industry better positioned to fight cybercrime than the insurance industry. Insurers have one thing in common that others (including cybersecurity companies) do not: a direct financial incentive to protect insured clients and prevent financial loss. (Credit: Jaruwan Jaiyangyuen/Shutterstock.com) There is literally no industry better positioned to fight cybercrime than the insurance industry. Insurers have one thing in common that others (including cybersecurity companies) do not: a direct financial incentive to protect insured clients and prevent financial loss. (Credit: Jaruwan Jaiyangyuen/Shutterstock.com)

An increasing number of articles on the topic would have you believe so, and it is a question we’ve long pondered as one of the larger providers of cyber insurance in North America.

The Wall Street Journal published an article highlighting a surge in cyber insurance costs amidst mounting claims from ransomware and speculating that insurance payouts may only be encouraging even more ransomware attacks.


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