Cybersecurity
Pipeline Attack Stirs Debate on Whether Insurance Lures Hackers
- Intruders seeking ransoms may choose firms with cyber coverage
- But security professionals say insurers also improve defenses
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The ransomware attack on Colonial Pipeline Co. that caused gasoline shortages along the U.S. East Coast also sparked a debate about whether cyber insurance helps protect against marauders -- or attracts them.
Some cyber-security experts say hackers target companies that have coverage, because they know the firms can pay ransoms. But others believe the blame is misplaced and that insurers, if anything, have raised the bar on cybersecurity.