French insurers authorized to cover ransoms paid by companies hit by cyber attacks

The French government has authorized insurers to cover the ransoms paid by companies that fell prey to cyber attacks.

This decision applies under certain conditions: the payment of a sum by the insurance company must be justified by the victim's filing of a complaint with the competent authorities no later than 48 hours after the payment of the ransom by the insured.

However, the organizations fighting against cybercrime call on the government to ban this type of coverage due to the increasing number of malevolent attempts.

For the record, the insurers AXA and Generali France had already removed this type of coverage from their contracts.