Phishing scam at
Sophia's Donut Shop
Data breach of personal records at First Bank
Ransomware attack Sykes, Bennett, and Associates
A ransomware attack encrypts the firm's data and cripples all business operations.
Munich Re solutions:
Incident response, including legal, forensics, notification, and crisis management costs
Business Interruption
coverage
Restore, replace, or recollect damaged
digital assets
Resolution:
Malware is removed and Sykes, Bennet, and Associates quickly returns back to normal business operations.
Munich Re solutions:
Sophia's business is able to respond appropriately to reduce regulatory and third-party litigation risk. She is able to resume her popular loyalty program and keep her business thriving.
Resolution:
Data compromise response expense coverage to help business investigate and respond
Identity recovery services for business owner’s compromised data
Reputational harm coverage for lost income resulting from the cyber event
A phishing scam results in a compromise of Sophia's loyal customers' data.
A local branch of a national bank stores all customer and account data on a central server.
Munich Re solutions:
First Bank’s banking services are quickly restored and its reputational damage is minimized.
Resolution:
Business interruption
Human error in handling of records results in sensitive personal data being made temporarily public.
Large corporation >$500M
Incident response, including forensics,
and data and system restoration
Computer hardware replacement
Data compromise
response expenses
Data compromise
liability coverage
Identity protection services for affected individuals
Sophia's Donut Shop boosts its profits through an online customer loyalty program. Customers like the discounts and Sophia loves being able to market directly to her repeat customers.
Small business <$25M
Law firm Sykes, Bennett, and Associates allows employees working remotely to access its systems through an unsecured RDP port.
Mid-size business $25M-$500M
Incident response, including forensics, and data and system restoration
Any descriptions of coverage are meant to be general in nature, may not be available in every state, may vary by state, and do not include nor are intended to include all of the actual terms, benefits and limitations found in an insurance policy, which forms the contract between the insured and insurance company, and governs in all cases. Munich Re and its subsidiaries disclaim any and all liability whatsoever resulting from use of or reliance upon this material.