Malwarebytes released a study suggesting too many businesses are oblivious to the realities of cyber crime. Almost 40% of business reported having experienced some form of ransomware in the last year and another 40% reported having paid a ransom amount to unlock their data. With an alarming 259% increase in the last year it is hard to imagine how big the impact has been on businesses.
When working with executives on risk management, cyber risk can one of the hardest areas understand. Often CIOs, CISOs and IT directors are stuck with limited budgets to handle such large threats to an organization. Not to mention the communication between highly technical IT personnel can be very difficult for other executives to understand.
From an insurance perspective cyber is one of those risks we can anticipate and handle accordingly. Organizations who take an active approach towards cyber strategy should engage their IT personnel with security and insurance professionals in order to tackle cyber risks holistically.
We wanted to take this opportunity to share a ransomware infographic posted by Malwarebytes.
The Base Team
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