Dan Lohrmann a Cybersecurity Leader| Cxo Advisor| Bestselling Author and Bikash Birai Co- founder FireCompass and CISO Platform explores a real-world ransomware attack scenario, where a company faced the difficult decision of paying a $1.2 million ransom after their data and backups were encrypted, despite having a $5 million cyber insurance policy.
Here is the verbatim discussion: It was um like about a let's just say I'm not going to give you too many details but the story makes sense as I go through this like it was about a five million dollar requests they had they had they had encrypted all their data they had no access to anything their backups were were were encrypted they they had not done a good job of separating their backups and and they and they hadn't done a good job of a lot of people have backups but they have they don't test the backups and so the Bad actors get in and they actually encrypted the backups as well so they were kind of you know up GRE um they didn't want to pay they didn't want to pay they had cyber insurance and the and in the US the Cyber insurance company said look they came in they were this it's your decision it's always.
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