Insurance for ransomware payments is getting harder to come by

Throughout the pandemic we’ve seen hospitals, pipelines and other critical infrastructure hit with ransomware attacks. Just this past week, meat processor JBS and a ferry operator in Massachusetts were targets. Hackers often target companies with insurance because they know they’re more likely to pay their often multimillion-dollar demands. Marketplace’s Amy Scott speaks with James Rundle, who covers corporate cybersecurity at The Wall Street Journal. He says the increase in attacks has had a real impact on the cyber insurance market. Premiums are rising, and some insurers won’t cover ransom payments anymore.