Ransomware attacks are skyrocketing at a time when many colleges are finding they can’t afford cyberinsurance — or can’t even get it. Higher education institutions seeking cybersecurity insurance today are not unlike homeowners living on the water in a hurricane-prone coastal community: the riskier the environment, the harder it is to get insured. For both community colleges and four-year institutions, cyberthreats are now very pronounced, and that reality has led to more institutions facing cyberinsurance premium hikes of as much as 400 percent—or even discovering they are uninsurable.
