Cyber security Insurance Claim: Backup Breakdown

An engineering firm loses years of critical design files to ransomware, only to find their backups had been failing for three years.

What Happened: A four-person engineering firm in London fell victim to the global WannaCry ransomware outbreak. The malware encrypted not just their live server data but also local backups, wiping out years of technical drawings, designs, and intellectual property. Although they believed their remote cloud backup would save them, it was discovered that the backup system had silently failed since 2014, rendering three years of business-critical data completely unrecoverable.

Our Course of Action: Knightsbridge Insurance Group supported the firm in filing a comprehensive cybersecurity insurance claim. After recovery efforts failed, the loss was evaluated based on the cost to recreate the lost data, factoring in the level of engineering expertise required. The policy covered over $270,000 in data re-creation expenses, ensuring the firm could restore operations without bearing the full financial burden.

Your data is your business.
Get a quote for Cyber Security Insurance from Knightsbridge Insurance Group today, and know we’ll be there when a cyber security insurance claim matters most.