White House Urges Insurance Firms to Halt Ransomware Payment Policies
The Record
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Contributed by: Drex DeFord
Summary
A senior White House official has urged insurance companies to stop offering policies that incentivize ransomware payments, citing their harmful effect on global cybersecurity. Anne Neuberger, U.S. deputy national security adviser for cyber and emerging technologies, made the comments after the International Counter Ransomware Initiative summit, emphasizing that such insurance practices undermine efforts to combat cybercrime. While discussions have occurred with the insurance industry, no formal agreements have been established. Neuberger recommended that insurers require businesses to implement strong cybersecurity measures as a condition of coverage. The UK's National Cyber Security Centre has previously collaborated with its insurance sector, producing guidance against extortion payments that has gained support from international industry bodies.
