For Agents & Brokers
Hackers hold fruit hostage
Ransomware attack shuts down family-owned food business
Who would have thought that hackers would hold fruit hostage? That’s essentially what happened when a ransomware attack shut down a family-owned fruit growing and shipping business. It’s another example of why mid-sized businesses need cyber insurance coverage.
The malware infection spread
The hackers exploited a common Windows web utility to download ransomware and gain remote control of a single computer. The infection then spread to 25 computers and the business’s servers, crashing the system and bringing operations to a halt.
Shut down for nine days
Once in control, the hackers stepped up their ransom threats — even calling one of the owners directly. But the owners refused to pay and normal operations ceased for nine days while the systems were restored by multiple IT vendor specialists.
$62,000 in losses
The ransomware attack cost the business owners more than $60,000, including $18,000 to recover and recreate data and $19,000 for systems restoration.
Yes, it can happen to you
The ransomware attack on a family business highlights a serious problem -- too many business owners think their enterprise is too small to experience a cyber attack.
Hackers target smaller businesses
In fact, cyber criminals may see a small to mid-sized business as a “soft target’ with limited security, or as a gateway to the data systems of a larger company. That’s because the smaller business has access to the company’s computers as a contractor or supplier.
HSB Total Cyber™ offers coverage and services
HSB’s Total Cyber™ provides a range of cyber risk insurance coverages for mid-sized businesses and institutions. The coverage includes data breach, misdirected payment fraud, cyber liability defense and settlement costs, and more.
Visit our website to learn more about cyber exposures and HSB Total Cyber™.