Organizations with standalone cyber insurance policies are almost four times more likely to pay the ransom to recover encrypted data than those without cyber coverage: of those that had data encrypted in a ransomware incident in the last year, 59% of those with a standalone cyber insurance policy paid the ransom, compared with 37% of those with cyber as part of a broader insurance policy and 15% of those that don’t have cyber insurance.

Organizations with cyber insurance are more likely to be able to recover data that was encrypted in a ransomware incident: 98% of those with a standalone policy and 97% of those with cyber as part of a wider insurance policy were able to recover encrypted data after a ransomware attack, compared to 84% of those without cyber coverage.Insurance coverage, in turn, plays a role in an organization’s ability to recover from an attack:

28% say it impacted the terms of their policy.62% say it impacted the cost of their coverage.60% say it impacted their ability to get coverage.For those that purchased a cyber insurance policy in the last year, 95% say that the quality of their cyber defenses directly impacted their insurability: New research published today finds that cyber insurance adoption is now the norm with 91% of organizations reporting having coverage, with an additional eight percent reporting they don’t currently have coverage but plan to obtain it in the next year. The new partnership unlocks Measured insurance premium savings for Sophos’ U.S.-based customers in recognition of their strong cyber defenses. Sophos, a global leader in innovating and delivering cybersecurity as a service, today announced a partnership with Measured Analytics and Insurance ('Measured'), the AI-powered cyber insurance provider.

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