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Ransomware is likely to continue as one of the greatest evolving cyber threats in 2018, according to Rotem Iram, At-Bay CEO and co-founder.
It was at the core of some of the biggest news stories of 2017, with businesses worldwide being forced to hand over huge sums of money to unlock encrypted files and recover data.
The cyber insurance market has, in turn, enjoyed a huge boost, as the far-reaching impacts of cyber threats become better understood. A key element of cyber insurance is business interruption coverage, which will cover the enterprise for lost business during a cyberattack. This area of coverage is becoming “increasingly important,” according to Iram.
“In 2018, the largest growth area in the cyber insurance market will be mid-market adoption of standalone policies. Due to the recent proliferation of cyber threats, business interruption coverage is becoming increasingly important for mid-sized businesses to large enterprises,” he told Insurance Business.
A survey conducted in October 2017 by California-based cyber security company At-Bay, found that respondents were particularly concerned…
