Churchill Cyber Risks – Microsoft Exchange Threat Alert

 

Microsoft Exchange Threat Alert - Cyber Risks

Since the beginning of March 2021, hundreds of UK companies have been compromised as part of a global cyber-attack on Microsoft Exchange Servers, which are used by many businesses across the world.

The hacking campaign was first announced by Microsoft on 2 March 2021 and that has been principally blamed on a hacking group called ‘Hafnium’. Microsoft announced the group used hacking techniques never seen before to infiltrate email systems and now further hacking groups are exploiting the vulnerabilities to launch compromises such as ransomware attacks against many organisations.

Microsoft has released software updates for the exploits and has urged customers to install them immediately to protect themselves. Security updates & the latest information can be found on the Microsoft website: https://msrc-blog.microsoft.com/2021/03/02/multiple-security-updates-released-for-exchange-server/

Our group Cyber Risk Specialist says:

“A number of our local businesses have been affected by this recent attack and for those who have bought Cyber insurance, we have immediately involved the insurer’s dedicated incident response specialists provided under the Cyber policies to help mitigate any damage. These attacks are likely to cause further financial losses such as forensics costs, lost downtime and reputational damage with customers which can be reimbursed under some Cyber insurance policies”.

“Cyber-attacks such as this can be extremely harmful to businesses and the costs to rectify the damage can be expensive. It also highlights that even the most advanced and secure platforms can be vulnerable to attack. Cyber Insurance is a cost-effective way to recover these losses and can provide you with immediate help and response services that you may need”.

If you have been affected by this issue or to learn more about Cyber Insurance in more detail, call us on 020 8511 1070, email insurance@churchillins.co.uk or get in touch with your usual Churchill contact

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