Cyber


With the world ever more reliant on technology in every facet of life, personal and financial data is increasingly at risk from both technical failure and deliberate misuse. Our technical and insurance expertise means that we can offer comprehensive adjusting services in the following areas:

  • Cyber attacks, including:
    • Ransomware/cyber extortion
    • Denial of service
  • Cyber crime, including:
    • Social engineering fraud (e.g. pretexting, whaling, baiting, phishing/vishing)
    • Internet banking crime
    • Payment diversion and other funds transfer fraud
  • Data breaches, including:
    • First party cover
    • Liability claims
  • Cyber event costs monitoring and assessment
  • Cyber business interruption
  • Payment Card Industry Liability claims

Sample Cases

  • A first party loss and liability claim for loss of data by an IT managed services company arising from a network system failure and problems with back-up protocols.
  • Potential multi-million USD liability at a data processing centre outsourced by a public health entity in Latin America, involving the deliberate theft of patient records.
  • Successful penetration of the network of an Eastern European bank with Trojans, enabling hackers to gain access to confidential customer account data.
  • Hacking of a South American bank’s internet banking facility, which allowed the capturing of login credentials that were then used to execute fraudulent fund transfers on customer accounts.
  • Receipt and processing of fraudulent electronic transfer instructions by a UK financial services company, originating from the hacking of a customer’s e-mail account.
  • Hacking of the network of a Middle Eastern exchange company in order to process unauthorised fund transfers on an international money transfer facility.
  • Vishing perpetrated against the French subsidiary of a multinational company, resulting in payments being made to foreign bank accounts opened by the fraudsters.
  • Denial of Service attacks and customer portfolio manipulation against a Middle Eastern online trading platform.
  • A multi-million USD loss through manipulation of credit card CVC fields that deceived a credit card authoriser in Bolivia into authorising fraudulent transactions through a provider’s Stand-In procedure.
  • Loss involving hacking of a website and manipulation of html data allowing fraudsters to purchase phone top-up credits without payment.