Marc Wallenstein Interviewed by Insuring Cyber Podcast on Ransomware Attack Guidance
Partner Marc Wallenstein spoke with Insurance Journal’s “Insuring Cyber” podcast on what organizations should know about handling ransomware attacks amid increased government scrutiny. Ransomware attacks accounted for a quarter of all cyber incidents globally last year, and paying a ransom is still a gray area for businesses and cyber insurers that may reimburse clients for payments.
Wallenstein speaks to the need for businesses and governments to collaborate to ensure ransomware payments do not take place. “It is a very difficult line to draw…it’s hard not to feel a lot of sympathy for [businesses subject to ransomware],” but the reimbursement of ransom payments by insurers could be seen as a green light for clients to pay ransoms.
Listen to the podcast here.