Cyber Risk & Insurance

Scenario: Hacker

$1,606,550 Payout

Insured’s computer systems were breached to extort the insured by threatening to release employee login credentials. However, the login information was encrypted, and the hackers were unsuccessful. They also engaged in a DDOS attack, which affected all of the insured’s systems. Systems were back online with minimal functionality within a month and with full functionality within two months.

Scenario: Staff Mistake

$600,000 Payout

Forensics: $200,000
Legal Fees: $400,000

While working on a project, employees of an IT Firm inappropriately used a Dropbox account to share customers’ confidential business information.

Scenario: Social Engineering

$350,000 Payout

A company made an improper wire transfer. The claim included the lost money, forensics, and legal expenses.

Scenario: Lost/Stolen Device

$600,000 Payout

Without insurance and preferred vendor rates, estimate $225/record lost or compromised

Seven laptops were stolen from an office location, two of which contained client names, the employer’s identity, and Social Security numbers. Damages included credit monitoring for the thousands of people affected.

Scenario: Ransomware

$3,000,000 Payout

Forensics: $200,000
Legal Fees: $400,000

All hospital servers and 1500 devices were encrypted by NotPetya, ransomware leading to significant system damage and business interruption costs.

Scenario: Hacker

$1,606,550 Payout

Insured’s computer systems were breached to extort the insured by threatening to release employee login credentials. However, the login information was encrypted, and the hackers were unsuccessful. They also engaged in a DDOS attack, which affected all of the insured’s systems. Systems were back online with minimal functionality within a month and with full functionality within two months.