The scope and sophistication of ransomware attacks have grown dramatically in recent years, with attacks on critical infrastructure (e.g., Colonial Pipeline) prompting a strong government response. To assist companies in navigating these challenging waters, in part one of this two-part article series, we distill insights offered by speakers at a recent Strafford webinar on the evolving ransomware threat landscape (including ransomware as a service, the ransom payment calculus and incident response) and discuss challenges and considerations related to responding to an attack. Part two will cover the government’s efforts at addressing ransomware and other cyber risks, and the role of cyber insurance. See “How Colonial Pipeline Changed Advice on Ransomware Preparation and Response” (Apr. 6, 2022).