Shirbit is the tip of the iceberg: you do not know how many companies have already paid a ransom - Walla! Business

2020-12-11T05:13:09.414Z

Shirbit's case may have been the most publicized, but more than 80 percent of companies in Israel do not do cyber insurance and some have already had to pay a ransom, only you have not heard of it. What is the importance of cyber insurance, how does it work in case of burglary and most importantly - how much does it cost?

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Shirbit is the tip of the iceberg: you do not know how many companies have already paid a ransom

Shirbit's case may have been the most publicized, but more than 80 percent of companies in Israel do not do cyber insurance and some have already had to pay a ransom, only you have not heard of it.

What is the importance of cyber insurance, how does it work in case of burglary and most importantly - how much does it cost?

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"It could be a matter of life and death for quite a few businesses in Israel," explain Zohar and Avi Tzadik, co-owners of the Sabra insurance agency, which is one of the dominant insurance agencies in Israel in the field of business insurance, "It is not for nothing that a few days ago The scope of the sale of cyber policies as a national strategic goal for the purpose of establishing the resilience of the economy and ensuring business continuity. "

In order to understand why the said coverage has become necessary for businesses, one must first characterize the range of risks that threaten their ability to recover from such a disaster.

First, the Zabar brothers make clear that the first risk is the inability of the business to deal with all the problems that arise, for which it is necessary to hire various experts, a cumulative cost that can easily climb to hundreds of thousands of dollars: "These are not just computer experts specializing in information security. A whole that includes lawyers, media consultants, experts in the field of disaster recovery, etc. and of course functions in the field of negotiation management - everything costs a lot of money. "

Another layer of insurance coverage is the loss of profits to the business due to downtime In fact, once such coverage is given, the insurance company, as one that pays for the damages, has an interest in being involved from day one in order to minimize them, so in this case, this 'partnership of fate' carries a lot of value for the insured.

A matter of life and death.

Zohar and Avi Tzadik

The investigation of the Shirbit affair is still ongoing, but there is a consensus among all experts that this is not a classic infidelity attack, but one that was conducted in a way that sowed panic and chaos among the public, using tactics designed to keep the event at the core of the headlines.

As a result, it can be estimated that the temporary image damage caused to the wand is great: "Such an ongoing explosion has a huge impact on the degree of public trust in the business, hence the need to manage the public relations wisely. "She can be sure that she will take care of it properly, given that she has 'partnered' with him around the matter."

In fact, even before the Shirbit case, infidelity and infidelity virus infestations were a matter of routine, but according to Checkpoint, the degree of threat to businesses in Israel has risen sharply in recent months.

This is an 80% jump in infidelity attacks.

The reason for this is twofold: First, company experts point out that a dormant virus has recently emerged and is making names.

Second, the consequences of the corona and the jump in the number of employed people working from home also did its part.

Thus, for example, beneath the surface in recent weeks, a certain infidelity has hit dozens of companies in Israel, including quite a few law firms and even high-tech companies that have cumulatively paid hundreds of thousands of dollars as ransom in Bitcoin.

Some of the companies, which did not properly manage the crisis, found themselves dealing with a great deal of information leaked to the Darknet network.

And how much does it cost to purchase such insurance?

Eli Elias, Lloyds Licensed Insurance Broker, who specializes in special risks in general and in this field in particular: the amount ranges from a few hundred dollars to basic coverage and increases to tens of thousands and even more, depending on a long list of parameters.

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Source: walla

All business articles on 2020-12-11

Shirbit is the tip of the iceberg: you do not know how many companies have already paid a ransom - Walla! Business

Shirbit is the tip of the iceberg: you do not know how many companies have already paid a ransom

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