“Double extortion” attacks—which combine a traditional ransomware attack encrypting data with a threat to disclose the encrypted data publicly—are now increasingly common. Insurers in the US, UK and EU insurance markets are responding to the unprecedented increase in global ransomware attacks by scaling back coverage. This resource describes market developments and provides guidance to policyholders on managing the ransomware risk.
Authors: Marialuisa S. Gallozzi, Partner, Insurance Recovery Practice, and Josianne El Antoury, Associate, Insurance Recovery Practice, Covington & Burling LLP
This article was originally published on the website of Covington & Burling LLP on February 22, 2022.