A retailer selling unique personalised gifts exclusively through their website and requiring the networks to be running in order to generate revenue, suffered a cyber-attack at the hands of a third party. As a result of their own data not being fully backed up as well as not having a business continuity plan that would address how to restore the website becoming operational again, they incurred total lost profit costs of £27,990 as the attack happened during their peak holiday season.
An online gaming company had a DDoS attack launched against one of their websites, which repeatedly altered in real-time in order to avert the company’s filters. The attack was eventually detected by a third party network team who was able to fully restore the website within a few hours, but the insured still suffered a direct financial loss as a result of the system downtime. Total lost profits during the downtime amounted to £165,000 and the company also incurred an additional $500,000 in IT costs to prevent future incidents such as this one.
A small, independent hotel operation in the UK was the subject of a cyber attack, where they believed malware got into their own systems as a result of an employee clicking a link from an e-mail in error. Upon clicking the link, their email and accounts systems froze and they received an email message demanding the payment of a ransom fee to unfreeze their systems.
The hotel’s IT company spent a couple of weeks, including weekends, to ensure the network was clear of the virus and back to normal operations. Total costs incurred to assess the damage were £15,000.
A retailer suffered a payment card data breach after hackers placed malware on the payment systems at 15 of its stores, which came to light after card brands notified the company of a series of fraudelent transactions. In all, over 30,000 payment cards were compromised, which lead the retailer to incur card brand assessments totalling £345,000.
Immediately following the breach the insured carried out a PCI forensic investigation. Due to the number of retail locations affected, the cost of this reached £95,000. In addition, £31,900 in legal fees were also incurred. The total costs of the incident was £476,900.
All information provided by CFC underwriting.
