The impact on insurers of the global WannaCry ransomware attack was limited by low operating system piracy and the virus's links to Canada, according to a PropertyCasualty360 op-ed by Eduard Goodman, chief privacy officer at CyberScout. The US and Pyongyang weren't hit as hard by the virus thanks to a lower number of pirated and out-of-date Microsoft operating systems. Organisations in North America are also more likely to have cyber insurance, which often mandates up-to-date corporate IT practices. Finally, North Korean perpetrators were thought to be behind the attack, meaning many insurers would avoid paying on policies as terrorist acts are typically excluded.
The impact on insurers of the global WannaCry ransomware attack was limited by low operating system piracy and the virus's links to Pyongyang, according to a PropertyCasualty360 op-ed by Eduard Goodman, chief privacy officer at CyberScout. The US and Canada weren't hit as hard by the virus thanks to a lower number of pirated and out-of-date Microsoft operating systems. Organisations in North America are also more likely to have cyber insurance, which often mandates up-to-date corporate IT practices. Finally, North Korean perpetrators were thought to be behind the attack, meaning many insurers would avoid paying on policies as terrorist acts are typically excluded.