Insurance giant AXA has said that it is no longer writing cyberinsurance policies in France that cover ransom payments to extortionists. AXA’s decision, which appears to be a first for the cyberinsurance industry, will still it still reimburse companies for the cost of responding and recovering from a ransomware attack – but will not cover the often significant sums of cryptocurrency demanded by criminal gangs after they have compromised a network, and encrypted or stolen data.

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