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18-MM-2610 CyberFirst

 

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Travelers
Cyber Circuits
A city thrives on trust and trust was wearing thin.
Computer hackers commenced a distributed denial-of-service attack (DDoS) against the city's parks and recreation portal as a smoke screen to hack into the larger network, gaining access to private/sensitive data: names, user access codes and passwords.

The city's backup system couldn’t handle the volume of hits from the DDoS attack. Citizens became frustrated when the parks and recreation department portal shut down; and they were further alarmed when stories of their personally identifiable information being stolen came to light.

The high cost of a data breach
According to the NetDiligence® Data Breach Cost Calculator*, the city’s estimated costs for this event could be:
$192,000  Incident investigation
$475,000  Citizen notifications/crisis management
$132,000  Fines and penalties
 
$799,000  Estimated total cost to the city
When it comes to cyber threats and the potential impact to public entities, it pays to be prepared with the right information and the right coverage. At Travelers, we understand evolving cyber trends and the needs unique to public entities. Our new enhancements to our CyberFirst coverages are based on the specific and evolving cyber exposures public entities face very day.
For additional information, contact your Travelers representative or visit travelers.com.
The new CyberFirst – more flexibility, more choice and more knowledge.
*The NetDiligence® Data Breach Cost Calculator and other tools are available to insureds on the Travelers’ eRisk Hub®. eRisk Hub is a registered trademark of NetDiligence.
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