Cyber Insurance Rates Likely to Rise Amid Escalating Ransomware Attacks

Companies looking to purchase insurance against cyberattacks in which their data is held for ransom will soon find it more expensive and difficult to obtain, according to a cybersecurity expert.

Brent Arnold, a partner at law firm Gowlings WLG in Toronto, said Canada is facing a proliferation of criminal attacks that use software to lock up corporate data that can only be released by paying a ransom to get an encryption key.

Read the full article: Insurance Business NZ