INCIDENT

The National Highway Authority of India (NHAI) was attacked by a suspicious malware. The cyber attackers tried to access and block the servers, in order to demand ransom.

Malware attacked the email server of the authority, which concerned to have impacted huge pool of data of highways and confidential information over the past decade. The NHAI is still assessing the impact of Cyber-attack on its systems.

FACTS

According to a cyber security firm Sophos, 82% of Indian organizations were reportedly hit by ransomware over the last year. As cyber-infrastructure is generally poor in India, due to non-availability of advance systems or employing intentionally or unintentionally pirated technology for cyber security, thus creating weaknesses in cyber defenses of Indian businesses. This makes organization’s unknowingly more vulnerable to Cyber-attacks.

CONSIDERATIONS

Evident in past, the servers of Kundankulum Nuclear plants were attacked, and now NHAI servers, creating Major concerns amongst the growing businesses, as the high security servers got hacked, then hacking the servers of businesses would not be a big hackle for ill- motived cyber attackers. Secondly, investing in cyber security comes with huge costs, and similarly it doesn’t guarantee non-hacking of systems, after seeing above examples.

INSURANCE FOR FAR-REACHING CYBER EXPOSURE

The above-mentioned exposures are not exhaustive in nature, but it is far reaching and may cause several co-related loss/damages, such exposures can be easily taken care under cyber Insurance policy.

OUR EXPERTISE AND SUPPORT

We have a number of different options available to protect your business. We at Beacon Insurance Broker Understands the exposure of your Cyber data or security in the best way possible to avert cost and losses by covering above mentioned exposure along with our tailored cyber coverage’s; we additionally cover all other related exposure in detail with our detail-oriented professionals.