exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
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Ransomware
What is Ransomware?
Ransomware (also known as extortion Trojans, extortion software, or encryption Trojans) is a type of malware that encrypts or blocks computer systems or files. Cybercriminals then demand a ransom to decrypt or release the victim’s data.
Ransomware meaning: The name “ransomware” is derived from the English “ransom” + “software”.
Ransomware attacks are increasing: 2017 saw a wave of ransomware attacks, targeting hundreds of thousands of computers. The number of malware programs in circulation in 2018 was 800 million.
You can protect yourself against ransomware by employing good IT infrastructure, regular back-ups and up-to-date software, training employees and being vigilant when opening e-mails.
(Related terms: malware)
Term: Ransomware
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