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So, y'all are out there making it a better bet for these scumbags that there will be somebody there to pay their outrageous demand.

Would it be possible for you big insurance companies with all your cash to invest in a good system of backup/restoration for all these smaller businesses so when they are hacked they have an alternative method of restoring business viability other than paying ransom to Russian scumbags?

LOL

That didn't go as expected.

Divining Rod said:

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So, y'all are out there making it a better bet for these scumbags that there will be somebody there to pay their outrageous demand.

Would it be possible for you big insurance companies with all your cash to invest in a good system of backup/restoration for all these smaller businesses so when they are hacked they have an alternative method of restoring business viability other than paying ransom to Russian scumbags?

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I was kind of curious who might be initiating these "attacks". Seems ripe for racketeering.

If you owned a business and got shutdown due to a hack, what would be your recourse if you didn't have insurance? Imagine being completely dead for weeks or months trying to have a government agency find and correct the source of the hack. What happens to your customers and contracts? Even with cyber coverage, there is a level of damage that often occurs to your relationships and reputation. It's not a perfect system but it rarely is when you're dealing with criminals.

This is an extreme example, but the fact is that almost 60% of businesses experienced some sort of cyber attack last year. So whether coverage is enabling them or not, this is something that is only getting worse and insuring the risk is typically a low cost relative to others.

TLDR- you're not completely wrong. It's an imperfect system but usually the cost makes sense for businesses with a high dependence on tech.

Divining Rod said:

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So, y'all are out there making it a better bet for these scumbags that there will be somebody there to pay their outrageous demand.

Would it be possible for you big insurance companies with all your cash to invest in a good system of backup/restoration for all these smaller businesses so when they are hacked they have an alternative method of restoring business viability other than paying ransom to Russian scumbags?

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It's not always that easy. Many attacks are sophisticated enough to sit for months and infect backup images of machines. Even if you can backup and restore, there can be a lot of business interruption that costs more than the ransom.