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Cyber insurance rates hike in wake of new attacks

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The increase in cybersecurity attacks has led insurance firms to increase their premiums by up to 25%, according to a new report from Reuters.  In particular, ransomware attacks are said to be causing the hikes, primarily because they cost so much to recover from. Insurers often have to pay out not just for the ransom price, but for the cost of restoring systems too. Malwarebytes Labs warned the attacks were getting “more sophisticated”.