Despite Growing Ransomware Risk, Insurance Oversight Catches Some Firms Off Guard
Captive insurance and a lack of in-depth cybersecurity insurance knowledge can leave some law firms with a rude awakening.
Long aware they’ve been in hackers’ crosshairs, law firms are currently under attack by a new breed of ransomware and attackers.
However, when law firms are hit with a ransomware attack, some are shocked to find out their insurance policies don’t include coverage for ransomware payments. Indeed, ransomware is a 21st century business threat that older insurance policies weren’t drafted for, observers say.
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