Ransomware Attack Affecting Private Schools in Singapore
For this claim, we were instructed by insurers to gather information and documentation in relation to the costs incurred by the insured group of schools. We were also to provide our analysis of those costs alongside our advice as to policy coverage.
Action:
We worked closely with the schools in Singapore to gain a detailed understanding of their IT environment at the time of the attack. This was fundamental to our in-depth review of the detailed and technical time narratives prepared by the various vendors that had been engaged and in turn the proportion of their costs that would fall within the scope of the policy.
Result:
We proposed a settlement amount to insurers which recognised that the recovery process had resulted in improvements to the design and set-up of the insured’s IT infrastructure, but at the same time was the most time efficient and secure approach. That is of course a common issue arising in situations like this.
We then explained insurers’ position and the relevant policy terms to the insured, achieving a settlement that was in line with those policy terms and which all stakeholders appreciated.
