Atty Mashatan, an IT professor from Ryerson University(a leading Canadian university), offered some insights on the recent cyberattacks that have crushed various sectors alike, including the healthcare industry, public systems, and corporate businesses around the world. Mashatan pointed out the use of an insurance policy as an effective ransomware removal measure against such attacks. She explained that similar to how businesses and individuals use health and corporate insurance policies for the prevention of any medical or physical incident, a cyber insurance policy for ransomware can secure valuable data from any loss. In today’s world, data exists as a priceless asset that holds the key to the success of an organization.
Insurance policies for cyberattacks differ based on terms and conditions. A detailed policy can assist in the payment of ransom as well as bearing legal expenses that can be followed after a cyberattack. These expenses are required for lawsuits where sometimes client seek compensation for damages due to their loss of sensitive data.
However, Mashatan believes that while insurances policies are useful, the best solution for ransomware removal lies in a quality cyber defense solution. Such solutions can consist of the installment of powerful anti-malware and anti-ransomware tools to detect a threat for ransomware removal. Likewise, for a contingency plan, regular back-ups can prove to be a life-saver.
She also pointed out the significance of an employee’s digital hygiene. She explained that individuals have to be more responsible, and they should refrain from engaging in clicking or downloading an unfamiliar hyperlink or email.
Mashatan’s recommendations have come out at a critical time. Canadian businesses and municipalities have been facing a multitude of ransomware attacks in 2018. The state of Ontario has been especially bearing the brunt of a huge segment of these attacks. This has prompted the Ontario Provincial Police to educate and warn users against ransomware attacks.