A message from McCormick Harris' Managing Director, Tony McCormick:
"The recent Cyber Attacks on the Australian Government
Offices and Business is yet another reminder of how financially devastating
these matters can be.
Many of these are not specifically targeting
businesses, just mass attempts to get in to computer systems.
In March this year, we had a very small Cyber
Incursion, by way of Business Email Compromise.
Quickly found and having our IT Managed Service
Provider, working in partnership with our Insurer’s Cyber Security Firm, the
problem was fixed very promptly.
As at yesterday we have costs of $56,632.13 and we
still have some more costs to come.
All paid by our Insurer. A quality Cyber
Insurance Policy and Response Program. The word quality is very important
The costs from our IT MSP (like many others, these
costs are not covered in our regular Agreement), Cyber Security Firm,
Specialist Vendor to establish and report on what the attackers looked at,
notification to the OAIC (Office of the Australian Information Commissioner https://www.oaic.gov.au/ )
and we are still to finalise the last two aspects before this will be complete.
This was a very small attack but as you can see,
costs have added up quickly and it will probably be four to five months of time
to put this behind us.
As the Manager of our Cyber Insurance Placement
Team said yesterday, “Scary times mate, any client that doesn’t have cyber insurance is
risking their livelihood now!”
Please put in place as a matter of urgency, a high
quality Cyber Insurance Policy/Program, that includes a very prompt, proven and
effective Cyber Response arrangement."
Please download the cyber advisory presentation and cyber questionnaire via the link below.
For more information please contact Tony and his team: