Ransomware attacks pose a significant threat not just to clients, but also to insurance firms themselves. The article discusses how insurers must enhance their cybersecurity measures to protect sensitive data against these growing risks.
Key Points
- 17% of cyber claims received by Marsh are related to ransomware attacks.
- Insurers are under pressure from regulators and hackers to implement robust cybersecurity strategies.
- Access controls should be automated, limiting data access to authorised personnel only.
- Integration of disparate systems is essential for compliance with the Digital Operational Resilience Act (DORA).
- Failure to address these threats can result in severe penalties and damage to the organisation’s reputation.
Why should I read this?
If you’re involved in the insurance sector or handle sensitive data, this article is a must-read! It highlights the urgent need for insurance firms to bolster their cybersecurity practices against ransomware threats—something that could save your business from a costly breach or hefty penalties down the line. Don’t wait until it’s too late!
