Cyber attacks: the French government approves ransom payments

French insurers have been given the go-ahead by the Ministry of Economy to cover the ransoms paid by companies that fall victim to cyber attacks. Ransom payments can only be covered if the victim entity files a complaint.

This decision will be proposed in a new bill to be discussed in Parliament in October 2022. It represents a balance between not wanting to finance the cybercriminals' ecosystem and preventing the death of companies affected by a cyberattack.

It is worth noting that since the beginning of 2022, the French government has been in favor of ransomware compensation by insurance companies, while anti-hacking organizations have called for a ban on this type of coverage.