Cyber Crooks May Have Been Watching “The Graduate;” Hit British Maker of Plastic Construction Parts 

“Eurocell said: ‘We experienced a cyber incident towards the end of July (2022), which resulted in some temporary disruption. The incident was efficiently resolved, with the business remaining operational throughout and trading normally from mid-August.

We have now partially resolved our cyber insurance claim and expect to recognise compensation in excess of £1 million [Editor note: app. $1.2m USD] as an underlying item in our 2022 financial statements, primarily for business interruption.”

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Source: Eurocell gets £1m insurance payout after cyber attack

Mark Sauter

Mark Sauter’s insights on the financial, policy and security elements of cyber insurance are based on years of experience in the investment banking, media and business worlds. Co-author of the McGraw Hill university textbook “Homeland Security: a Complete Guide,” Sauter was also a consultant to one of the world’s largest software companies and served as a US Army Special Forces and infantry officer.