UK May Ban Insurers Companies From Covering Payments From Ransomware attacks

According to Martin, insurers "will inadvertently fund organized crime." In recent years, insurance companies have paid for the claims of their clients who fell victim to ransomware. The organizers of such attacks often demand a bitcoin ransom to access encrypted networks, and this request is accepted by many companies.

Martin believes there must be a legal barrier to prevent companies from claiming insurance reimbursements for these "rescue" operations, since this practice only benefits criminals.

Kiaran Martin fears that the so-called ransomware "could get out of hand."

“I believe this can be avoided. At the moment, companies have incentives to pay the ransom to solve their problems. It is necessary to seriously think about changing the law on insurance and banning these payments, or at least to hold serious consultations with representatives of the industry, ”said Martin.

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