Partner Peter Halprin sat down with Business Insurance for its “Insurance Industry Thought Leader” video series to discuss ransomware, cybersecurity, and insurance coverage.
Ransomware attacks have increased since the start of the pandemic, and Peter explained the importance of reviewing all policies to see where coverage might arise. Peter also warned companies to understand the potential consequences of paying a ransom demand. “There has been guidance from the Department of Treasury and the New York Department of Financial Services warning people that when you make those payments you could run afoul of sanctions regimes” such that “it’s important that people be very careful when making ransom payments,” said Peter.
View Peter’s full interview here.
