Yohan Lobo, Senior Industry Solution Manager at M-Files

The frequency and sophistication of ransomware attacks is a concern for organisations globally, with Marsh revealing that 17% of cyber claims it receives are related to ransomware.

However, while it’s crucial that insurers continue to serve this market, they must also invest internally to ensure that their cybersecurity protocols are watertight, providing the required level of protection amid a heightened threat landscape.

Additionally, stipulations of the Digital Operational Resilience Act (DORA) are increasing the scrutiny on financial services firms that operate in any capacity in the EU, demanding proactive measures to ensure compliance.

According to Yohan Lobo, Senior Industry Solutions Manager at M-Files, insurers can respond to the growing threat of bad actors by bolstering the security and privacy of their documents and data.

Read the full article on Ransomware threat as high for insurers as it is for their clients, says M-Files | Insurance Edge