Case Study
Software shutdown - Cyber attack results in contractual complications for property management firm
Case study Software shutdown Cyber attack results in contractual complications for property management firmCyber insurance policies have historically offered relatively short indemnity periods under the business interruption section. While traditional business interruption policies connected to property damage typically offer 12, 18, 24 and even 36 months as standard, many cyber policies only offer a 3-6 month indemnity period. In part, this stems from an assumption that a system outage caused by a cyber event will be shorter lived than the effects of a major property damage loss. However, it is becoming increasingly clear that the operational impact of a cyber event can be felt for much longer than a 3-6 month period would allow for. Indeed, any cyber attack that significantly