Challenge: A successful phishing attack left an insured’s computer network infected with ransomware. Several servers on the insured’s network were encrypted and the threat actor demanded $200,000 for a decryption key.
Solution: The insured reported the matter to AIG Claims, which coordinated the retention of law and forensics firms. The forensic firm determined that no files had been infected and was able to restore data from backup files. After consulting with authorities, the law firm determined that no formal notifications were necessary.
Benefit: The insured was supported by AIG’s cyber claims team and our relationships with specialized legal and forensic firms to help facilitate their response to the event and return to full operations. The insured did not pay the ransom and the legal and forensic work was covered by the CyberEdge policy.