More Belgian companies insure against consequences of hacks




More Belgian companies have taken out insurance in 2014 for the financial consequences of an Internet attack. Last year, 13 percent of companies are insured against such damage, whereas a year earlier was only 5 percent.

That writes the Belgian newspaper De Morgen based on figures from insurance broker ADD and CFO Magazine. Their research also showed that less than 11 percent of companies have made an overview of the total damage that is likely in an attack by hackers.

The differences between various insurance packages is large. Most insurance policies do not cover more than a fee for entering data again. On the other hand, there are also more expensive packages of up to 7,500 euros per year which guarantee more. The example involves a fee at any extortion, legal assistance, liability and other matters that could lead to a fee.

At the end of 2014 published an overview of various Belgian and Dutch companies that have been hacked by Rex Mundi. The group has set up a website in which personal data are posted. It comes to passwords, bank data and medical records of ten thousands and thousands of Belgians Dutch. The affected companies would have refused to pay the extortionists. Rex Mundi has often been in the news for the extortion of businesses.


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