The government will allow compensation to be paid for ransom from cyberattacks

The government will end the gray area of ​​insurers paying ransoms related to computer hacking by legalizing the practice, subject to a complaint, Bercy said in a press release issued this Wednesday, September 7.

This measure refers to cyber ransom “It will be an integral part of the orientation and programming bill of the Ministry of Internal Affairs presented to the Council of Ministers this Wednesday, September 7.“, adds the RA Ministry of Economy. And “By the end of September, a working group dedicated to cyber risk insurance will be created, bringing together the interested players.Bersi also notes.

According to the Treasury Department’s report on developing cyber risk insurance, there is a need to “clarify the legal framework“specifically, through”the obligation of the victim to file a complaint to enable cyber ransom insurance;“, the ministry explains.

Increasing companies’ awareness of cyber risk

Until now, there was a gray area around this topic. If reimbursement by ransom insurers was not illegal, a parliamentary report a year ago recommended it be banned, ruling that “Ransom payment (by insurers) drives cybercrime“and”there is no guarantee that a ransom paid is a guarantee of a return to the original situationfor the company under attack. Axa France has suspended the marketing of the option.cyber ransomFrom May 2021, the time to clarify the scope of the insurance intervention, and it was controlled by Generali France in early 2022.

In its report, the Treasury highlights that to grow cyber insurance, which represents only 3% of professional indemnity insurance premiums, there is a need, among other things, to better measure damage and therefore cyber risk by sharing data between the public and private . , and:increase business outreach efforts“. “I would like these guidelines to be implemented as soon as possible.“, Minister of Economy Bruno Le Maire stated.