New research by Databarracks has revealed 54% of businesses now have a defined policy in place to deal with ransomware attacks – whether this means paying a ransom, relying on insurance policies or refusing to pay at all.
The findings are from Databarracks’ 2021 Data Health Check. Running since 2008, the annual report surveys over 400 IT decision makers in the UK on critical issues relating to cybersecurity, IT resilience, cloud and remote working. When asked if their organisation had a policy for paying out on ransomware attacks: 21% have a policy to never pay a ransom, 14% will pay a ransom if it is lower than the cost to recover systems, 13% will pay if the ransom is covered by their cyber insurance policy and 6% will pay only as a last resort if there is no other way to recover data.