No longer being held to ransom

With ransomware attacks increasing in both frequency and severity, it is critical that the insurance industry looks to introduce technology into the cyber insurance solution to help stop the surge. This is according to Graeme King, Managing Director – Cyber at Volante Financial & Professional Lines in his article “The insurance market should not be held to ransom” published this week in Insurance Day.

The industry is over reliant upon a cover-based solution to tackle what is fundamentally a technology problem, Graeme states, and must look to fuse the latest in malware-blocking technology into its insurance products if it is to reduce exposure levels to ransomware attacks and provide customers with greater cyber security.

Volante Global has been working with cyber security solution specialists GBMS Tech on ways to offer clients endpoint multi-layered security technology as part of its cyber insurance offering. The multi-faceted ransomware product is designed to deliver that combination of technology and cover at an acceptable premium level.

Graeme’s article is available to read here on the Insurance Day website (subscriber-access only) or alternatively please download the PDF of Insurance Day below and you can read the article on Page 6. InsuranceDay08February2020

Thanks to Insurance Day for kindly supplying the PDF and for publishing this piece.