Rubrik, a Zero Trust Data Security company, has introduced a $10-million ransomware recovery warranty. The warranty covers expenses related to the recovery and restoration of data protected by Rubrik in the event that data cannot be recovered following a ransomware attack.

The company is doubling down on its commitment to customers and their business resilience, to provide confidence that with Rubrik, they can rapidly recover and restore business-critical operations if faced with a ransomware attack, it said. 

“With the ever-growing sophistication of cybercrime, reducing the risk of a ransomware attack to zero has become a harrowing task. This ongoing evolution demands organisations to stay vigilant and ready for the inevitable instance of a cyber attack,” said Bipul Sinha, Co-Founder & CEO, Rubrik.

Bringing ransomware recovery warranty to India is an imperative step towards reinforcing trust and demonstrating unwavering global support to our customers in the battle against cyber threats, he added. 

Global industry

Ransomware attacks have grown into an estimated $8.4 trillion industry globally, becoming one of the greatest threats to economies. According to the Rubrik Zero Labs State of Data Security report, surveying over 1,600 IT and security leaders, more than half of the respondents’ organisations were impacted by a ransomware attack in the last year. 

In India, 26 per cent of respondents reported their organisations experienced over 100 attempted cyber attacks within the last year alone and 51 per cent of companies suffered a loss of customers as a result of a cyber attack. As reliance on data-heavy technology continues to expand, the susceptibility of this data to cybercrime grows in tandem. It’s crucial that organisations pivot from trying to completely mitigate the risk of a cyber attack to focusing on minimising the impact, said the company.