AI APPLICATIONS
CYBERSECURITY INSURANCE
AND THE RISE OF RANSOMWARE
The last 18 months saw a surge in ransomware attacks and the rise of cyber security insurance . We look at what this means for businesses of all sizes
WRITTEN BY : LAURA BERRILL
“ Cyber risk has undergone multiple episodes of change , but nothing quite so impactful as the last 18 months ”
HOWDEN ’ S GLOBAL HEAD OF CYBER , SHAY SIMKIN
Hybrid working as one of the outcomes of the pandemic , along with the multitude of remote devices used by companies and their employees both in the office and at home , has seen a big surge in ransomware .
This is according to Professor Rajarajan Muttukrishnan , who heads up City University ’ s Institute of Cyber Security . He believes one of the biggest challenges in the field is now the expansion of the Internet of Things or IoT , and this , in turn , will mean cyber insurance will become a must-have for companies of all sizes and sectors .
Muttukrishnan explains : “ Now , many companies are allowing their employees to work from home and pop into their offices . So one of the main challenges is when
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