Ransomware attacks on the rise even as cyber insurers sca...

REUTERS: Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even scale back on the cover they offer against cyber crimes, a report from a leading insurer showed. The total costs of ransom payments doubled year-on-year through the first six months of 2020, according to the report from Lloyd's of London insurer Beazley Plc that called such attacks the biggest threat facing businesses. Ransomware attacks typically involve the infection of computers with malicious software, often downloaded by clicking on seemingly innocuous links in emails or other website pop-ups and leaving users locked out of their systems, with the demand of a ransom to be paid to restore computer functions. They differ from a data breach or other types of hacking, which may steal large batches of customer data or other information from companies ...