GTRambler
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The Extortion Economy: insurance Companies Fueling Rise in Ransomware Attacks
- Thread starter GTRambler
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MWBATL
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Good stuff. Thanks for posting....
Deleted member 2897
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I think that’s a ridiculously oversimplified cynical view without supporting data.
What do I mean? These towns aren’t paying six figures in insurance premiums. Their deductibles aren’t that high. They paid almost $500k out off of probably less than 1/10th of that in premiums and deductibles. Then you have to factor in their labor costs and other overhead. To make money of this by signing on more customers, this one incident would probably have to lead to 30-50 new customers. Then you have all the other payouts. I don’t see any evidence that paying out money is “good for business”. Otherwise, you could say all these hurricanes and earthquakes and everything else is great for insurance companies.
What do I mean? These towns aren’t paying six figures in insurance premiums. Their deductibles aren’t that high. They paid almost $500k out off of probably less than 1/10th of that in premiums and deductibles. Then you have to factor in their labor costs and other overhead. To make money of this by signing on more customers, this one incident would probably have to lead to 30-50 new customers. Then you have all the other payouts. I don’t see any evidence that paying out money is “good for business”. Otherwise, you could say all these hurricanes and earthquakes and everything else is great for insurance companies.
GTRambler
Helluva Engineer
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Ransomware attacks are now getting worse.
https://www.cnn.com/2019/08/29/politics/ransomware-attack-dental-offices/index.html
https://www.cnn.com/2019/08/29/politics/ransomware-attack-dental-offices/index.html