Ontario Personal Ransomware Insurance

Ransomware and other cyber attacks have become more common place not only for businesses, but for the general end user. For this reason, insurance companies have put together coverage packages to insure everyday people for their costly cyber insurance vulnerabilities.

Having your computer be a victim of a ransomware or other cyber attack is not only a hinderance on your life, but it could possibly cost you thousands of dollars to retrieve your data and repair your systems. In some cases you may lose all of your data or you might even have your identity stolen.

Personal Cyber Insurance Examples

Everyone assumes that cyber events only happens to the big companies. This is simply no longer true. The cyber attackers will gladly take money from anyone that their attacks have extorted. For this reason the attackers are spreading their software every chance they have and they are even selling their ransomware software to non-technical people for a cut of the ransom money.

If you have nothing of value to the attackers, it will not matter. They will simply look for vulnerable systems that have not been updated or protected. They will also send out mass emails to every email address they can find. If you accidently click on the wrong link, you could also become a victom of a cyber attack.

Cyber Extortion / Ransomware

A ransom note popped up on the homeowner’s computer screen soon after she discovered that all of her files had been locked. “Your files are encrypted,” it announced. “To get the key to decrypt files, pay $1,000 USD.” If payment was not received within a week, the price would increase to $2,000. The threat included destruction of her decryption key and any chance of accessing the thousands of files on her PC. The homeowner paid the $1,000 extortion demand and had to pay an information technology firm to investigate the ransom and ensure that there were no viruses left behind on her computer.

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