Oakland was hit with a ransomware attack attack in May and the fall out continues, along with what to us is a surprising, and positive, focus by local media on the city’s cyber insurance coverage.
The most recent reporting reveals the city has apparently failed to notify many citizens that their personal information was revealed by the hack. Not surprisingly, some of these people are now the victims of identity theft based on their lost data. “‘It’s a living nightmare,’ said Oakland native Dedrick Warmack, as he anxiously checked his mailbox. ‘On the credit report, there’s credit cards that should’ve been closed, they’re now open with balances of $17,000 and $30,000.'”
Soon after the attack, the media reported on whether Oakland had sufficient cyber insurance: “‘It seems like it’s mostly covering comprehensive electronic information and security liability coverage, so that assumes it’s tied to data,’ (cyber insurance expert Chris) Hetner told the I-Team. ‘If I think about the disruption tied to ransomware, like shutting down systems, not being able to deliver services, it seems like this policy is not designed to meet those needs.'”
But bumbling Oakland city management appears not to have gotten the message about its real insurance needs, or perhaps is unable to expand its coverage due to the issues that allowed the initial hack. “In a statement provided to (televisions station) KGO, the city says their cyber insurance policy has not changed since the incident.”
When local television news is reporting on cyber insurance coverage, the industry is clearly becoming more prominent.
