By Joshua Gold, who is a shareholder in Interleges’ US member Anderson Kill‘s New York office and serves as chair of the Cyber Insurance Recovery Group and co-chair of the Marine Cargo Insurance Group.
“Recent events highlight the on-going cyber perils that plague organizations and individuals globally. This is an opportune time to take inventory of your cyber insurance protection.
July 2024 saw two different (and daunting) cyber perils unfold on the same day. The first was a massive computer disruption that occurred after an update on certain Windows systems went awry.
According to an announcement by the CEO of CrowdStrike: The outage was caused by a defect found in a Falcon content update for Windows hosts. Mac and Linux hosts are not impacted. This was not a security or cyberattack.
The adverse after-effects were felt by many for some time. In the same week, the Los Angeles County court system not only suffered disruptions from the CrowdStrike Windows update itself, but it was targeted by a severe ransomware attack, forcing the courts to close down normal operations as they worked with their consultants to reboot systems and avoid further harm from the malware.”
Read on for the Next Steps for Those Adversely Impacted.