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Britain s former cybersecurity chief, Ciaran Martin, has urged the government to review cyber insurance payouts being used to fund ransom payments. (Photo: Mathew Schwartz)
Crime doesn t pay - except perhaps when it comes to ransomware, which continues to fuel a massive surge in illicit proceeds. With such profits appearing to be at an all-time high, clearly something needs to be done to blunt ransomware-wielding extortionists force - but what?
Ransomware victims range from environmental regulators and construction firms to manufacturers and healthcare facilities - including those helping respond to the COVID-19 pandemic. Beyond disrupting businesses, such attacks also pose a public health risk; they potentially can compromise patient safety as hospitals continue to get hit.
Labour MSP speaks out over distasteful practice affecting commercial landlord By Alan Hendry Published: 19:15, 26 January 2021
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Rhoda Grant has concerns over insurance.
A north politician has raised concerns over what she calls a distasteful practice in the insurance industry relating to the Covid-19 pandemic.
Highlands and Islands Labour MSP Rhoda Grant spoke out after learning that a commercial landlord had been contacted by his insurance broker regarding his premises being unoccupied due to the restrictions in place.
Typically, she pointed out, most insurance policies only provide unoccupied property cover for a limited period, usually 30 to 60 days. During the first national lockdown last year most insurers granted extensions to these periods.
Only 1 in 5 drivers recieved a lockdown car insurance refund whitbygazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from whitbygazette.co.uk Daily Mail and Mail on Sunday newspapers.
A DECISION to support local businesses has been widely welcomed. Alyn and Deeside MS Jack Sargeant has been campaigning with local business to ensure insurance companies pay out without delay to businesses impacted by the pandemic and has welcomed a recent Supreme Court ruling in favour of the businesses. It is estimated that 370,000 businesses have been affected by insurance companies refused to pay out on business interruption insurance at a time when they need it most. The ruling brings clarity on the issue and should mean that these businesses finally begin to receive the insurance they paid for. Jack Sargeant MS said: This is very welcome news from the Supreme Court for the many businesses who were refused payment. I will be writing again to the Association of British Insurers expressing my expectation that insurers pay out on all valid claims as soon as possible.
Travellers warned over Covid cancellation insurance claims
Holiday plans of millions in doubt as insurers deem disruption or cancellation on trips bought after the coronavirus pandemic a known risk
23 January 2021 • 9:00pm
People entering the UK at Heathrow Airport on January 22 as the spread of the coronavirus disease continues
Credit: PIA JOSEPHSON via REUTERS
British travellers have been warned they will not be able to claim insurance on holidays cancelled because of Covid travel restrictions.
Insurers said they will not cover travel disruption or cancellation on trips bought after the pandemic was officially declared as it is regarded as a “known risk”.