Yes, if you purchased a Privacy/Network Security policy with a coverage extension for Cyber Extortion the ransom would be paid and you would provided with a team to mitigate the loss. Any reputable Cyber policy/carrier would have this extension as part of their base policy.
Does anyone know if cyber liability policies will pay a ransom in this situation?
I spoke to one of our Cyber Underwriters, this is Cyber Extortion coverage. It is an add-on, in some cases it can be added for free
Yes, if you purchased a Privacy/Network Security policy with a coverage extension for Cyber Extortion the ransom would be paid and you would provided with a team to mitigate the loss. Any reputable Cyber policy/carrier would have this extension as part of their base policy.