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Insurer AXA halts ransomware crime reimbursement in France

AXA says it will stop writing cyber-insurance policies in France that reimburse customers for extortion payments made to ransomware criminals. Only the U.S. surpassed France last year in damage from ransomware to businesses, hospitals, schools and local governments. The insurance industry has come under considerable criticism for reimbursing ransom payments. The suspension only applies to France and does not affect existing policies, a spokeswoman for the insurance company says. The average recover time from a ransomware attack is three weeks, an analyst says.”]

Source: https://abcnews.go.com/Technology/wireStory/insurer-axa-halts-ransomware-crime-reimbursement-france-77540351

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