Claim Examples

These are some of the claims admitted to insurers.

LPG Gas Distributor

After the insured’s IT team investigated on
some anomalies on the company’s servers,
they discovered that their database, containing customers’ personal details, was encrypted by ransomware. Forensic investigators were deployed to help terminate the malware and assisted with system restoration. Further investigation showed that no data exfiltration had occurred and closed the case.
Business Revenue – S$50million
OUTCOME
Crisis management expenses amounting to S$10,000 involving data forensics expense and systems restoration costs were paid under the policy.

Property Management Company

The insured’s email exchange server was hacked. The forensics team was engaged to assist with server restoration, as well as analysis of the hacked email account and all other employees’ email accounts to ensure that no data exfiltration has occurred.
Business Revenue – S$35million
OUTCOME
Crisis management expenses amounting to S$65,000 involving data forensics expense and systems restoration costs were paid under the policy.

Tourism/Leisure Operator

Upon returning to work on Monday, the insured’s employees realised that various departments could not access their files and the links between the network drives were down. The internal IT team found out that they were hit by ransomware and the hacker was demanding payment in exchange for codes to unlock the encrypted files. Fortunately, the insured maintained a daily backup of their servers and the forensics team was able to restore the company’s servers. Several system licenses had to be purchased as they were corrupted during the attack.
Business Revenue – S$35million
OUTCOME
Crisis management expenses amounting to S$75,000 involving data forensics expense and systems restoration costs were paid under the policy.

Moving/Relocation Company

The insured’s website was taken down and they notified the insurer immediately. The forensics team was engaged to investigate the situation.
They discovered that the website was hacked and brought down because of certain vulnerable ports that were left open on the server and subjected to exploitation. The forensic investigators assisted with the website server restoration and provided advice on the necessary precautions to take to prevent any further occurrence.
Business Revenue – S$2million
OUTCOME
Crisis management expenses amounting to S$21,000 involving data forensics expense and systems restoration costs were paid under the policy