Claims
We manage and administer claims within the group, whilst managing TPA relationships around the world. Our mission is to give a first class service to all of our business partners.
We understand the full range of requirements from a claims notification, handling and risk management perspective. Through our extensive network, we co-ordinate swift responses to all forms of operational risk, and we work with expert vendors to provide the best possible outcome for our business partners.
Service
We are committed to ensuring that our clients receive superior service during the lifespan of an insurance claim.
Advice
We continually refine our legal and external vendor panels to ensure that our portfolio of clients receive the best advice and support when issues arise.
Education
We pride ourselves on being able to introduce business partners to a panel of in-house experts so they can further educate and prepare clients for new and emerging threats in the market.
Example claims scenarios
These examples are for illustrative purposes only, and do not in any way constitute a definitive guide as to coverage. All claims notified are subject to their own unique facts, and coverage is assessed on a case-by-case basis.
Ransomware
Insured's employee discovered that the data on the server was encrypted and internal IT took their systems offline to prevent the ransomware from spreading. Ransomware variant was the Ryuk ransomware.
A majority of the Insured's servers and backups were encrypted, therefore the Insured had to pay the ransom demand. Forensic providers were successful in negotiating the ransom demand down to half of the original demand. The Insured was fully operational 15 days after the ransomware was discovered. Breach counsel confirmed that no PII had been accessed or exfiltrated, therefore, there were no notification obligations arising out of the incident. The Insured's business income loss was subsequently less than originally predicted as they were able to implement manual processes.
Privacy Breach
A company laptop containing PHI was stolen from one of the Insured's employee's cars.
The laptop was password protected at two levels. However, it was not clear whether all the healthcare information on the laptop was encrypted. Breach counsel notified the 30,000 impacted individuals in 10 different states.
Network interruption
The Insured experienced a DDoS attack targeting the Insured's website and rendering it inoperable.
The perpetrator demanded 50 bitcoin to restore the Insured's website. Forensic providers were able to restore the Insured's website without paying the ransom demand. The Insured submitted a business loss as a result of the downtime.
Social Engineering
The Insured's accounts department received several emails over a two month period from a fraudulent third party purporting to be from the Insured's CEO.
The accounts department transferred several payments amounting to over AUD 100,000 before realising that the wiring instructions were fraudulent. The Insured notified their bank and were able to recover a portion of the money. The remaining amount was indemnified under the Insured's policy excess of their deductible.