In a press release earlier today, the security company ViaLock will start to offer insurance to prevent heist attempts.
In a move that’s raised more questions than confidence, ViaLock, the security giant that got completely embarrassed in a recent hackathon trying to crack their security system, announced plans to roll out a new line of anti-heist insurance. The initiative, unveiled in a press release earlier today, aims to provide protection against heist attempts—a bold offering from a company that’s supposed to be preventing them in the first place.ViaLock offers full-package solutions for private clients and corporations alike. But with this latest move, some are questioning the real motivation. Is the insurance a response to the high-profile incidents at Scry Digital, or just another way to squeeze more cash from clients?
While the company insists this is a good idea, critics wonder if ViaLock is inadvertently admitting their systems aren’t as foolproof as they claim. Shareholders, too, seem unconvinced, as the announcement seems to send the stock sliding, suggesting the market isn’t buying into this “double protection” gibberish.
If ViaLock’s solution to security concerns is to sell insurance instead of upgrading their tech, investors might start looking elsewhere for safe returns.