For a happy festive season, protect against ransomware

Protect your company from ransomware attacks in the Christmas holidays.

Ransomware is a form of malicious software (malware), which is a blanket term for viruses, worms, trojans and other harmful computer programs used by hackers to encrypt victims’ files. To restore encrypted files, hackers demand a ransom, usually payable in Bitcoin (BTC).

LAUW has seen ransom amounts increase from $5,000 of BTC to $30,000 within just two years. What will it increase to in the near future?

Access to files is becoming more important for businesses, hence the increase in ransom attacks and ransom amounts.

The four main ways to protect your business against ransomware are:

Enforce software update processes by installing software patches as soon as they are released.
Don’t install software or give it administrative privileges unless you know exactly what it is and what it does.
Install antivirus software that detects malicious programs, like ransomware, as they arrive and company-approved whitelisting software that prevents unauthorised applications from executing in the first place.
Back up your files – frequently and automatically. Back-ups won’t stop a malware attack, but can reduce the damage caused.

At LAUW, we have several cyber products to assist insureds that suffer ransomware attacks. For full details on the products on offer, please click the links below:


News Alert December 2020