Cyber Claim Scenario – Brand Protection
(First Party Claim)
Brand Protection Example Claim
A leading software provider breached its obligations to Australian customers when hackers broke into its systems in 2013 and made off with loosely encrypted passwords and credit card details. The Australian Privacy Commissioner investigated the issue and ruled the company failed to take ‘reasonable steps’ to protect the personal information of 1.7 million Australians to the level demanded by domestic privacy legislation.
The company engaged the services of a public relations consultancy firm to limit the brand/reputation damage associated with the findings.
CGU Cyber Defence provides coverage for the costs associated with regulatory privacy investigations and costs to engage a public relations firm to protect the company brand.
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