Companies must remain vigilant about how their business would be affected if they were impacted by a cyber incident.
This list of loss scenarios from internal Cyber threats explains the potential impact on a client’s business and describes how Chubb’s Incident Response Platform helped contain the Cyber threat:
*All currencies indicated are in USD
A Recruiter for a healthcare organisation accidentally attached the wrong file when sending an email to four job applicants. The file included HR demographic data consisting of 43,000 former employee names, addresses, and national ID numbers.
The insured telephoned the Chubb Incident Response Hotline for assistance and an Incident Response Manager was assigned. Chubb brought in Legal counsel to manage regulatory implications.
Incident response expenses:
Total cost: $306,100
It is important to understand that cyber is not only related to technological incidents. As innocent as it may seem, human error can be very costly, and it occurs more frequently than expected.
Many of the claims Chubb see stem from very simple employee errors.
An employee for a consultancy company sent an internal email containing negative comments regarding a service provider. The email was forwarded to others within the organisation and eventually was sent externally. The email was seen by the service provider and a defamation lawsuit was brought against the consultancy company for harming the service provider’s reputation.
Third party claims arising from the Insured’s internet media activities. Wrongful Acts include product defamation, disparagement, trade libel, false light, plagiarism, and more:
Incident response expenses:
Total cost: $33,900
Due to the sensitivity of such a claim and the potential damage to a client’s reputation, it’s important for companies act quickly to mitigate any potential loss or damage.
By ringing the Chubb Incident Response Hotline we can ensure the correct specialists such as PR consultants are appointed to work with the client and communicate effectively with the service provider to resolve issues and bring the matter to a conclusion.
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@2022 Chubb. The contents of this document are for informative purposes only and do not constitute advice. Please review the full terms, conditions and exclusions of our policies to consider whether they are right for you. Coverage may be underwritten by one or more Chubb companies or our network partners. Not all coverages and services are available in all countries and territories. Chubb® and its respective logos, and Chubb. Insured.SM are protected trademarks of Chubb.
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