Landing On Your Feet In The Face Of A Ransomware Attack

Free Wi-Fi. A few years ago, seeing this written on the sign inside your favourite local coffee shop evoked some sort of excitement. Surfing the web without the burden of costs? Wow! 

Today, connectivity is much more accessible, with things like LTE data and basically every public building now handing out Wi-Fi to a degree where we can’t help but take it for granted.

While the burdens of time limits or costs-per-minute internet surfing is becoming a thing of the past, there is one, much larger burden that has always come along with surfing the internet, and this burden bears a much heavier weight, because you can’t even see it coming:

Ransomware. 

Ransomware is a sophisticated cyber attack done through malicious software. It targets open vulnerabilities within networks, shutting them down and demanding funds in order for systems to be allowed to run properly again. Through unprotected, public Wi-Fi networks, Cyber criminals can access your device. Once they’ve gained access, all of your sensitive information (including, but not limited to: credit card information, name, address, etc.) can be compromised, as well as other associated networks, like that of your workplace or organization. Once a hacker has this control, they will contact the victim of the attack, requesting some form of payment in exchange for a decryption key to return the victim’s information and release the network.

A cyber liability coverage plan offers protection in the event of unforeseen cyber attacks. It’s a proactive approach to keeping you protected, avoiding repercussions of stolen funds or identity for you, as an individual, or for your organization. 

To learn more about these attacks, watch our full explainer video here.

If you’d like to learn more about cyber liability coverage for your business, contact one of our insurance professionals today.