Cyber insurance: The moral quandary of paying criminals who stole your data


Earlier this year, a club with around 70,000 members found itself in a pickle: Pay a ransom or risk the personal information of those members being exposed.

In this scenario, the club paid the ransomware. It was decided that the financial hit of paying outstripped the reputational harm to that business. They handed over a handful of bitcoin totalling around $200,000 and the data was returned.

“They felt compelled to protect the data of their members and to do that, felt paying the ransom was the right thing to do,” Emergence Insurance founder and CEO Troy Filipcevic told ZDNet.

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