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To embed, copy and paste the code into your website or blog: Insurer AXA, among Europe's top five insurers, recently announced that it was suspending insurance coverage in France for ransomware extortion payments. AXA said it made this decision in response to concerns raised by French justice and cybersecurity officials during a recent Senate roundtable in Paris about the global epidemic of ransomware. Notably, days before AXA's announcement, the insurer was hit by a ransomware attack. AXA's move reflects a growing sentiment around the world that the current state of insurance coverage for ra...
Metamorworks / Nature / Getty Images Ransomware, the "perfect crime" of the internet era, is spreading rapidly, growing according to some accounts by 150% or more in 2020. There are no signs of a slow-down in 2021. The average ransom demanded by attackers jumped 43% from Q4 2020 to Q1 2021 to $220,298 as threat groups target bigger and more vulnerable organizations, from police forces to hospitals to municipal school districts. Two significant factors aid the inevitability of ransomware. The first is the ease with which cybercriminals can earn money from their ransomware endeav...