How Cyberinsurance Is Responding to Ransomware: An Interview with Ken Suh, Mark Singer, and Marcello Antonucci

Daniel Solove writes:

Ransomware has long been a scourge, and it has been growing into a pandemic with no signs of slowing down. I recently had the opportunity to discuss ransomware with several experts at Beazley. Based in Chicago, Ken Suh is the focus group leader for cyber & tech claims at Beazley. Mark Singer is a cyber & tech claims manager based in Beazley’s London office. Marcello Antonucci is based in New York and is a global cyber & tech claims team leader at Beazley.

It’s a good interview, and I’m going to just pull out one snippet here:

SOLOVE: How do your clients make decisions about whether to pay a ransom?

SUH: The decision whether or not to pay a ransom can be a difficult one, and Beazley supports our clients regardless of their decision.

Clients who enter into ransomware incidents with strong principled positions, like “we will never pay” or “we will always pay” often find it difficult to stick to those positions during an actual attack. Worse yet, because they anticipated not needing to revisit their decision, they tend to be the least prepared to have rigorous internal discussions about an effective response strategy.

Read more of the interview on TeachPrivacy.

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