If information from specialist insurer
CFC Underwriting is anything to go by, then it looks like May’s WannaCry attack was not met with inaction as previously reported.
While a recent survey of 250 broking firms in the UK suggested that the attack failed to “stimulate” the cyber insurance market, CFC Underwriting named WannaCry as the biggest source of enquiries in the first six months of 2017.
There was also a dramatic increase – almost 50% – in weekly enquiries in the first month after the attack, according to a report by
Information Age.
“We’d expect to see an uptick, but this really was an unprecedented jump and then sustained interest, compared to previous high profile attacks,” said Graeme Newman, chief innovation officer at CFC Underwriting, as quoted by the report.
Last month
Reuters quoted Fitch Ratings managing editor Jim Auden as saying: “Take-up rates for cyber insurance are increasing with frequent reports of computer hacking incidents, including: network intrusions and data theft, as well as high-profile ransomware attacks that are leading corporations to search for broader insurance protection against cyber threats.”
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WannaCry: The lessons learned for insurance
