Cyber & Privacy Protection

The director at an insured accounting firm noticed that some documents on their server had been deleted. Further investigations revealed that a hacker had been accessing the firm’s system for two months.

The accounting firm’s insurer hired an IT forensic consultant to review the firm’s systems. They discovered that 800 client files had been accessed, which included driver’s licenses and passport numbers.

A specialist was appointed to monitor whether any client identities were stolen or sold, and a law firm was retained to advise on the data breach issues and draft a notification letter to all affected parties. It was determined that the accounting firm needed to report the incident to the Privacy Commissioner, and the appropriate steps were taken to secure the information they held.

The insurer paid $90,000 to cover specialist and legal fees, as well as remediation costs to rectify issues in the firm’s system.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers.