How Hiscox helped a customer bounce back after a ransomware attack

September 15th, 2019 .
Authored by Hiscox Experts .
2 min read
Cyber attacks cost the average UK small business £10,000 a year. Don’t chance it. As one of our customers found out, a Hiscox cyber liability policy could help you save your business should it all go wrong.

An average workday became a nightmare when a customer discovered his business had fallen victim to a ransomware attack. We sent in our team of experts who swiftly set things right.

One in three small businesses fall victim to cybercrime in the UK. But that didn’t make it any less of a shock for one of our customers when he discovered his clients could no longer access confidential information stored on his company’s cloud servers.

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The business had just upgraded to provide customers with a faster service. But hackers had managed to lock the servers down and were asking for a hefty payment in cryptocurrency to restore access.

As it happens, our customer was well aware of business cyber risks, so he had a Hiscox cyber insurance policy in place. He called us immediately hoping he could recover at least some of his losses.

But, at Hiscox, we don’t do things by half. It’s the reason we have the only cyber insurance policy to score 100% in The Insurance Times’ Cyber Product Report 2018.

We covered all the income our customer lost as a result of the ransomware attack. We also sent a team of specialists to help our customer get his business back on track.

An IT specialist regained access to the customer’s servers. Meanwhile, a PR expert helped manage communications and damage control with suppliers, a lawyer advised on next steps and a security consultant looked into what went wrong and advised on preventing future attacks.

Needless to say, our customer breathed a huge sigh of relief:

Hiscox pulled out all the stops to save my business. Things could’ve gone very differently if I hadn’t had them in my corner.”

Hiscox offers different cyber insurance products. Please check your policy documents to confirm the coverage you have in place.

Interested in one of our products? Call us on 0800 2800 351 or visit our website’s cyber insurance section for more details.

Hiscox Experts

Hiscox insures over 400,000 UK businesses (based on the number of policies sold in 2021), has a Defaqto five-star rating and is the proud winner of the Feefo Platinum Service award (2020-2022), rated by real customers.