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Not cynical at all. Insurance business is mostly predatory. If it doesn't make them money, they're not gonna cover it.

Regardless, in this specific instance I'm all for it. This will hopefully wake enterprises up so that they invest in good IT practices, which will have lasting effect on other parts of IT within firms.

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This isn’t predatory at all. This is a company creating a risk pool that is cheaper for organizations that believe they can self-manage ransomware risks. The ethical behaviour of an insurance company is completely orthogonal to what risks they choose to cover.

Predatory in the same sense that most businesses are predatory. I.e exist to make a profit.

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