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Pipeline Ransomware Attack Stirs Debate on Whether Insurance Attracts Hackers By Katherine Chiglinsky and Jamie Tarabay | May 17, 2021 The ransomware attack on Colonial Pipeline Co. that caused gasoline shortages along the U.S. East Coast also sparked a debate about whether cyber insurance helps protect against marauders or attracts them. Some cyber-security experts say hackers target companies that have coverage, because they know the firms can pay ransoms. But others believe the blame is misplaced and that insurers, if anything, have raised the bar on cybersecurity. “Ransomware actors are in it for the money so if they know a target is insured, they may go after that target,” said Chris Painter, president of the Global Forum on Cyber Expertise and former cyber coordinator at the U.S. State Department. “On the other hand, underwriting standards for insurance often contain requirements that incentivize their insureds to be better at cyb

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