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What cost to me after a Cyber attack?

It does very much depend on the type of attack that has been made on your systems or Web site. However, below are examples of some of the areas you will spend money. How much? How long is a piece of string?

Have you budgeted for the following Expenses in managing your Cyber Risk?

Payment of a ransom? (Maybe a cheaper solution to get your system back temporarily)

data recovery and data rebuilding (IT consultants and data recovery contractors),

Loss of reputation on the business (You will need Crisis Managers, Public Relation consultants, Staff communications, clients and other stakeholders, marketing and advertising),

Various Accountants and consultants’ fees needed to measure and prove the loss

Managing the recovery – particularly to mitigate breach of privacy or confidentiality of client information and informing all of them who are affected by a breach how you are dealing with it (mandatory breach reporting requirements)

Lost Sales due to this Business Interruption (particularly when ability to generate online sales has been affected),

additional costs incurred to maintain business operations or mitigate sales losses – hiring a more specialist firm to deal more quickly with being off air

Cover these expenses with a Cyber Risk Insurance policy. Ask us how?

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Ransomware a threat

You sit down at your computer to check your email. It is Christmas time and you are getting notes from many different delivery companies saying that a package was unable to be delivered to your home. Please click on the reply button (link) to advise where or when the parcel can be redelivered.

It looks authentic, you have no reason to believe that it simply advice about collecting yet another parcel in time for Christmas. The company named is well known and reputable. Admittedly the email address looks a little strange. However, you also know there are many new domain names and extensions now, You click on the reply button…

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