Insurance Carrier Suffers Ransomware Attack
AXA Partners, the international subsidiary of AXA insurance group, ended up hit by ransomware attacks in four countries, company officials said.
The attack comes on the heels of AXA, among Europe’s top five insurers, saying it will stop writing cyber-insurance policies in France that reimburse customers for extortion payments made to ransomware criminals. The Paris-based group said it was suspending the option in France only in response to growing concern that such reimbursements encourage cyber criminals to demand ransom from companies they prey on, crippling them with malware. Once victims of ransomware pay up, criminals provide software keys to decode the data.
May 16, 2021
No cost values disclosed.