Case Study: Cyber Incident Response
One of our clients noticed some unusual activity on their accounts. Various funds were being misdirected and had escalated into a five figure sum – a huge loss for any small business. This cyber incident required immediate attention.
Created to project-manage a crisis like this, our inhouse Cyber Team were immediately on the case. After listening intently, it was clearly a key logger attack. Someone had gained unauthorised access to their system and automated small payments were being redirected. While on the call, we noticed the client was actually under another attack… but with expert, IT forensics this latest attack was rapidly intercepted.
We isolated the client’s systems, securely changed their passwords and removed the malicious software, thereby providing a practical, innovative cyber incident response to an urgent security problem.
The attack could have been catastrophic but our swift actions minimised the impact on their business, reduced the claims pay out and saved them from costly renewal expenses. Additionally, our client had cyber insurance, which helped cover the losses and manage the recovery process efficiently. We also helped to futureproof the client from further attacks by outlining improved safety measures and automated software updates.
It’s crucial for businesses to have comprehensive cyber security insurance to protect against potential threats and ensure they are prepared for any future cyber incident.
Case Study: Setting a new standard for cyber-risk modelling
Outside-in scanning scores risk vulnerability against real businesses; however, they varied between providers. We collaborated with leading providers and conducted the market’s largest-ever data study across more than 42,000 risks, incorporating cyber-risk modelling to enhance accuracy.
Working together with providers allowed us to pull together the largest study with our own claims data. This gave us a true score, standardized a pricing model and supplied clients a quantifiable understanding of the risks they face through advanced cyber-security-risk modelling and threat modelling techniques.
True risk modelling and fair pricing just makes sense; it’s a practical solution for our clients. If you have any queries about our cyber risk modelling, feel free to contact us.
