The Covid-19 pandemic has caused a massive shift in the way organizations do business and the way their employees do their work. This shift has also brought about an increase in cybersecurity risks, which should not be overlooked. Much of this increased risk comes from the increase in ransomware attacks.

According to one of the largest cyber insurance providers in North America, approximately 41 percent of cyber insurance claims in the first half of 2020 are attributed to ransomware attacks. While one can be forgiven for thinking that cybersecurity is a concern only for large corporations, that is far from the case. The malicious actors behind ransomware attacks do not discriminate. It is a problem that affects organizations large and small in various industries, including healthcare, government, construction, manufacturing, legal, and education, to name a few.

Despite this increased risk, cybersecurity companies report that more than a quarter of small businesses have no plan to mitigate a ransomware attack.