Cyber Insurers May Want To Rethink Ransom Payments Based On This New Data

“To pay or not to pay? According to new data, the answer may have changed.”

Glenn Baruck, eDot

As cyber threats continue to evolve and grow more sophisticated, the demand for ransom payments from victims continues to be an alarming trend. However, the recent Sophos’ State of Ransomware 2023 report sheds new light on the effectiveness of such payments and urges cyber insurers to reconsider their stance.

The findings in the Sophos report indicate that paying ransoms does not guarantee data recovery or prevent future attacks, leading to a call for a fresh approach to tackling the ransomware epidemic. In this article by Kyle Alspach for, the author explores the implications of this data and delves into the potential impact on the cybersecurity insurance industry.

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