Cyber Claim Scenario – Insider and Privilege Misuse
An Australian logistics/freight forwarding and warehousing, with a 30M turnover, had a disgruntled ex subcontractor who hacked the company’s network multiple times with the intention of disrupting business operations. As a result of the attacks, the Insured’s network was down for 21 days.
As the company was insured, the insurer use the services of a cyber loss adjustor, who was appointed to locate and rectify the main cause of the disruption and to facilitate the restoration of the entire network.
Have your company got a spare $280,000?
The claim resulted in a payments of $280,000 made up of $110,000 in Defence Costs and $170,000 paid out in relation to IT expenses and lost income for the time the network was down.
Can you insurer against a Insider and Privilege Misuse Loss?
Some insurers offer Cyber Insurance to cover Insider and Privilege Misuse.
However it’s not a in all policies, if your unsure speak to one of Insure 247’s brokers on 1300 046 787
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