“In early May, global insurer AXA made a landmark policy decision: The company would stop reimbursing French companies for ransomware payments to cybercriminals.”

Wow. Quite the declaration. This was pulled from a recent article on Dark Reading. Cyber insurance stories like this have been continuing to pop up over the last couple of months highlighting an increasing trend.


Huge cybercrime stories have been hitting the mainstream every few days. Companies in wide-ranging industries have been hit with progressively more severe cyberattacks, and it’s shaking up the public and corporate landscape in a big way.

It’s hard to definitively say that this is all “unprecedented”. Most anything cyber-related is unprecedented. Though internet-connected devices have integrated themselves into our daily lives at an ever-increasing scale, we have to remember the cyber space is still in its infancy.

Industries that have been slow to work through digital transformation regarding cloud adoption, identity and access management, and mapping to compliance frameworks, for example, are easy targets for increasingly sophisticated attackers.

As insurance companies navigate this whole new digital world, they are beginning to see the severity and maturation of cybercrime, and the severity of cost impact on their own bottom lines. With ransomware payouts continuing to rise, it’s easy to see why re-evaluations on cybercrime coverage are taking place.

The looming potential of a lack of coverage for cybercrime carries a lot of implications for businesses trying to plan for the long term. A lack of stability and a potential for the rug to be pulled on your current plan to help combat the effects of cybercrime can be huge hindrances for growth.

Maybe it’s time to re-evaluate your “insurance” against cybercrime. Let’s dive deeper.

Why Cybersecurity is Better “Insurance” for Your Business

Insurance itself is very reactionary. An event occurs, you file a claim, you are covered. Everything takes place after the inciting incident. This increases the total costs of time and money to an indefinite degree as you look to remediate a cyberattack.

At Fishtech Group, we take a proactive approach cybersecurity to ensure our customers are equipped to detect and respond to cyberattacks with our tailor-made solutions for organizations of all sizes.

With the offerings from our Security-as-a-Service division CYDERES, you can find solutions that are right for your organization, no matter how mature your security posture. Whether you’re looking to find vulnerabilities in your organization to patch up, or if you are looking for a full 24/7 managed security team to seamlessly work with your internal teams, CYDERES can help you adopt a proactive approach to better insure your business against severe costs from cyberattacks.

Our CYDERES solutions include:

These solutions seamlessly work together to protect your organization from the costs associated with significant breaches. What headlines often miss when they report on the ramifications of an attack are the intangible costs associated with recovering from the disruption. We’re looking at costs to time, costs to reputation, costs to morale. These are things traditional insurance can’t protect you from.

When you work with the solutions found at Fishtech Group and CYDERES to equip your organizations to combat cybercrime, you are helping give your business stability in the long-term to continue to grow and avoid the intangible costs of relying on traditional insurance.

Check out the rest of our site to learn more about our wide variety of cybersecurity solutions ready-made to help lead your organization to a more secure future.

If you’re ready to learn more, fill out the form to be connected with one of our experts.

Ready to Learn More About Fishtech Group Cybersecurity Solutions

Fill out the form below to be connected with one of our experts.