360Protect (Protection & Recovery Assistance)
What is ransomware?
Ransomware is a type of malicious software (aka, malware) that threatens to publish your credentials and block access to data or a computer system until the victim pays a ransom fee to the attacker. It’s designed to make your computer inaccessible by encrypting (a process where information is turned into code) all files and holding them hostage. If your computer is connected to a network, ransomware will usually try to spread to any other computers on the network and infect their files too. The only way to decrypt your files is by paying a ransom and retrieving a decryption key. Another consequence of ransomware is that it not only encrypts data, but will create a copy of data and send it offsite to other cybercriminals. Not only is data encrypted and non accessible, but now they can demand a ransom to unlock your files and a seperate ransom to return the files they stole.
How does QuickProtect help?
360Protect reimburses costs associated with responding to and remediating a successful attack or breach in your environment. It includes: $100,000 of ransomware and business email compromise protection, $100,000 of compliance and regulatory protection, $50,000 of business income loss protection, and $250,000 cyber liability protection (conditions apply). Roughly 40% of the time, agreeing to pay the ransom works to recover most or all of your files. Though 60% of the time, paying the ransom is not successful in recovering your data.
How else can you handle ransomware attacks?
Many companies choose to go to their backups instead of paying ransom. This will take some time, but is a safer option to ensure you get access back to all of your files and data.However, this would be assuming you have offsite and offline backups in place, and it wasn’t also encrypted by the ransomware.