Focused and targeted incident response and management reduces the impact of an attack
Context:
This client with the local government came to Resilience looking for strong insurance coverage to supplement their investment in cyber security. Through our proactive onboarding process, we identified their need for an incident response plan and provided them with our template. Our team tailored recommendations for best practice incident management. We introduced the client to panel-approved privacy law firms, who were recommended based on their ability to assist clients through the lifecycle of a privacy matter.
Problem:
Six months after their initial onboarding, the client realized they had experienced two potential data security incidents within the same month. A third-party vendor organization they relied on for invoicing their customers was hit with a ransomware attack, and an employee erroneously released private payroll data to an individual outside the network. In both cases, the client needed to evaluate whether or not customer and employee private data was accessed and whether they had any data breach notification obligations as a result.
Solution:
In both matters, the Resilience Claims & Incident Management team immediately contacted the client and their broker to set up a call immediately after both incidents were reported.
In response to the ransomware attack against their vendor, we provided a Resilience-created Vendor Risk Management Guide to assess and respond to the risk to private data. This guide provided suggestions to consider when engaging with a new vendor and safeguards to put in place for existing vendors and throughout the lifecycle of the engagement.
Regarding the lost data, the client needed a crisis communications strategy. We provided them with Resilience’s Crisis Communications Guide, which helped avoid common crisis communication mistakes, which may fuel speculation and increase the risk of lawsuits or regulatory penalties.
Results:
Resilience helped this client respond immediately to both incidents, mitigate potential losses, and minimize incident response costs. This is a direct result of the Incident Response planning and privacy counsel introduced during onboarding. Resilience’s claims team was actively involved in ensuring the client had as much information as possible and making sure the scope of work and costs being performed by vendors were appropriate. After many positive interactions with our Claims & Incident Management and Security Operations teams, this client opted to renew their policy with Resilience.