Businessman hand holding money banknote for paying the key from hacker for unlock folder got ransomware malware virus computer. Vector illustration technology data privacy and security concept. “Though it might sound counterintuitive, continuing to adhere to software requirements is one of the best ways to fight the ransomware industry,” said Vincent Weafer, CTO at Corvus. “Better software adoption is a critical element in better positioning organizations to stand up to attackers.” (Credit: Mister x)

The sense of dread caused by ransomware runs deep and businesses are increasingly worried about how to handle the risk. However, just 19% of companies have ransomware coverage limits in excess of $600,000, a survey by BlackBerry and Corvus Insurance found. The average cost to investigate and recover from an attack is $2.4 million, according to a report from Forrester Research.

The survey also uncovered that 59% of business owners hope the government would cover damages for future nation-state attacks.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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