Real Estate Firms Secures Data and Peace of Mind After Ransomware Event
A real estate brokerage faced a ransomware attack and, despite having viable backups, prioritized safeguarding its data from further exposure. At-Bay Claims, in collaboration with At-Bay Response & Recovery, provided flexible support and peace of mind.
The Target
Industry: Real Estate
Attack Type: Ransomware and Data Exfiltration
The Attack
The insured discovered a ransomware attack that exfiltrated their data and encrypted their network, impacting 80 workstations, 12 servers, their O365 environment, and on-prem Exchange. The threat actor demanded Bitcoin for data suppression and decryption. Though the insured was able to restore systems independently using strong backups, they wanted to take additional steps to ensure sensitive data wouldn’t be further exposed.
Example of an At-Bay Claim Response Timeline
Team Contact & Assembly
- Upon reporting the incident, At-Bay quickly assembled a collaborative response team, including At-Bay’s preferred incident response vendors and At-Bay’s in-house DFIR team, At-Bay Response & Recovery, to lead negotiations with the threat actor.
Guidance & Resolution
- Insured had viable backups but expressed strong concerns about data exposure.
- At-Bay Claims collaborated with the insured to evaluate those concerns, and At-Bay Response & Recovery was engaged to negotiate with the threat actor.
- At-Bay Response & Recovery successfully reduced the ransom by over 30%.
- Coverage was triggered under Information Privacy, Network Security, and Cyber Extortion.
The Result
Client-first approach
At-Bay recognized the insured’s concerns and leveraged its expertise to negotiate the ransom
32% reduction in ransom payment
Saving the insured significant costs
$1M Covered
Including ransom, legal costs, forensic investigation costs, data recovery costs, and notification costs
At-Bay: Confidence to Thrive in the Digital World
At-Bay is the InsurSec provider for the digital age. By combining world-class technology with industry-leading insurance, At-Bay was designed from the ground up to empower businesses of every size to meet cyber risk head on. At-Bay Insurance Services, LLC provides insurance protection and security prevention solutions to close to 40,000 businesses in the US, safeguarding up to $800B in collective business revenue, and offers coverage by admitted and non-admitted insurers for Cyber, Technology Errors & Omissions (Tech E&O), and Miscellaneous Professional Liability (MPL). The At-Bay Group also includes an active full-stack insurance company and a cybersecurity company. At-Bay Security offers proprietary cybersecurity solutions including At-Bay Stance Managed Detection & Response (MDR).