Is ransomware attack coverage included in Cyber Liability Insurance?

Ransomware attack coverage is typically included in Cyber Liability Insurance policies. Ransomware attacks are a prevalent and disruptive form of cyber incident and most Cyber Liability Insurance policies are designed to address the financial impact and expenses associated with such attacks.

Here are some key points regarding ransomware attack coverage in Cyber Liability Insurance:

Ransom Payments: Cyber Liability Insurance can cover the ransom payment made to cybercriminals in the event of a ransomware attack.

Data Restoration: In addition to covering the ransom payment, these policies often cover the costs associated with restoring data and systems to their pre-attack state. Data restoration is a critical aspect of recovering from a ransomware attack.

Legal and Regulatory Compliance: Cyber insurance can assist in covering legal defense costs and regulatory fines that may result from a ransomware attack, helping businesses navigate the legal and compliance aspects of the incident.

Business Interruption: Some policies also provide coverage for business interruption expenses that result from a ransomware attack. This can help businesses continue their operations with the ability to pay business expenses.