Will cyber insurance pay for a ransomware attack?
It depends on the policy wording, not on the word “cyber” in its title. Policies differ in what they cover: incident response costs, restoring systems, business interruption, claims from third parties and, in some policies, the ransom itself. They also differ in exclusions, deductibles, waiting periods before interruption losses count, and the security conditions you declared when you applied, such as multi-factor authentication (MFA) and offline backups. Paying a ransom can also be restricted by law, for example when the attackers are on a sanctions list, so an insurer may refuse that part even when the rest is covered. Before an incident, read the cover with your broker, note the insurer’s hotline and the conditions for notifying them, and check that every declared control really exists. NetSenX does not decide cover, but its alerts and audit log, on every plan, help show what was monitored and when the first signs appeared.
General information, not legal advice. National laws can add to the EU texts quoted here, for example deadlines, forms or reporting channels: check your own country's rules.