Manufacturer gains decryption keys — without paying the ransom
A large manufacturer suffered a ransomware attack with a $1.2M demand to provide the decryption key. They reported the incident to Coalition¹, and we immediately engaged breach counsel and an incident response firm to investigate and respond to the incident— they selected Coalition Incident Response (CIR).² ³
The manufacturer had hoped to restore from backups to get their systems running again, but they didn’t have viable backups. Unable to operate without access to their systems, they were projecting losses of $1M per day and were seriously considering paying the ransom — that is, until CIR suggested an alternative idea.
CIR contacted law enforcement in search of a decryption key for this specific ransomware variant. Fortunately, a decryption key was available and, after testing it in a controlled environment, CIR delivered the key to the manufacturer. Within a day, they decrypted their systems and promptly resumed business.
Thanks to Coalition’s cooperative effort with law enforcement, the manufacturer successfully avoided a seven-figure ransom payment. Their Breach Response and Business Interruption coverages handled the cost of forensic investigation, notification, breach counsel, data mining, and business interruption.
Coalition¹ brings together active monitoring, incident response, and comprehensive insurance to solve cyber risk. To learn more, visit coalitioninc.com.
2. Breach response included the engagement of an incident response firm; the insured selected Coalition Incident Response. 3. The claim scenarios described here are intended to show the types of situations that may result in claims. These scenarios should not be compared to any other claim. Whether or to what extent a particular loss is covered depends on the facts and circumstances of the loss, the terms and conditions of the policy as issued and applicable law.
Ready to learn more?
Our brokers and policyholders get access to all of the intel we have on how to prevent, remedy, and recover from breaches of all kinds.
We’re bringing a new approach to managing digital risk, and the world has noticed. Here’s what people are saying about Coalition.
We’re a team of experts, backed by powerful partners, developing a safer world.
Coalition’s products are offered with the financial security of Allianz Group* (A.M. Best A+ rating), Arch Specialty Insurance Company (A.M. Best A+ rating), Ascot Group** (A.M Best A rating), Fortegra Group (A.M. Best A- rating), Lloyd’s of London (A.M. Best A rating), Swiss Re Corporate Solutions*** legal entities (A.M. Best A+ rating), Vantage Risk Specialty Insurance Company (A.M. Best A- rating), and Chaucer Insurance Company DAC (A.M. Best A rating).
© 2024 Coalition, Inc. | Licensed in all 50 states and D.C. | CA License # 0L76155
* Insurance products are offered in the U.S. by Coalition Insurance Solutions Inc., a licensed insurance producer and surplus lines broker. Insurance products may not be available in all states, For further details see here. ** Insurance products may be underwritten by Ascot Specialty Insurance Company, Ascot Insurance Company, or an affiliated company, which are members of Ascot Group. *** Insurance products may be underwritten by North American Capacity Insurance Company, Swiss Re Corporate Solutions America Insurance Corporation, or an affiliated company, which are members of Swiss Re Corporate Solutions. Fortegra® is the marketing name for the service contract and insurance operations of the subsidiaries of The Fortegra Group, Inc.