Example of how cyber insurance helps after a ransomware attack

Cyber ​​insurance is of course there for financial coverage. If your business falls victim to cybercriminals, the costs quickly add up. But this insurance offers more. The insurer's specialists also ensure that you can continue quickly.

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Advertising agency hacked: ransom demanded
An example of insurer Hiscox. After the weekend, the managing director of a marketing agency is the first to arrive at the office on Monday morning. When she starts up her computer, she notices that her PC's startup screen looks different than usual. She sees an image of a large key in her screen. In the text below, a hacker urgently requests her to transfer a large amount in crypto. If not, the systems remain encrypted.

How is it resolved?
The DGA immediately contacts her system administrator. He also tries to log in and sees that he can't change much about the hostage situation. She then calls the insurance company.

Hiscox immediately sets up an incident response team with the necessary specialists. They make a recovery plan so that work can be resumed as quickly as possible and data loss is minimal. Because the agency collects personal data, a declaration is also made to the Dutch Data Protection Authority. Furthermore, relations, whose data may be made public, will be informed. In this way image damage is kept to a minimum.

Fortunately, the company has a recent backup. Partly because of this and the help of the specialists, the agency is back in business within 24 hours. There is no need to pay a ransom. How much is the damage in this cyber attack? The total damage is € 15,000. These costs are covered by the cyber insurance.

Upcover is a good cyber insurance for your company.

Do you also want to be able to count on good insurance coverage and support to get back to work quickly after a cyber attack with ransomware? Contact us via the quote form. After a no-obligation introductory meeting, we will get to work for you. We compare the offers of the best cyber insurers and advise on the best solution for your company.