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Here is one problem the cyberinsurance faces.Standard & Poor’s Financial Services LLC research firm identifies overconfidence in a companies ability to defend against a ransomware attack is not matched by the ability of tools to identify and remediate cyber risks.Here’s the reality: Among respondents who dealt with an actual attack, network security tools blocked 14% of the attacks and endpoint security was effective for 13% of respondents, said report author Daniel Kennedy, principal research analyst for the Information Security channel at S&P Global Market Intelligence.Furthermore Another safety net is cyber insurance, a key strategy cited by 44% of respondents, he said, with 78% of ransomware victims subsequently either extending an existing policy or else purchasing one for the first time.2024 looks to be another profitable year for ransomware.@Thaddeus Dziekanowski Brian D. McCarthy Faisal KhanVeritas GRC#cybersecurity #cyberriskmanagement
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