The practice says it was hit by a ransomware attack days after its coverage lapsed. “Gallagher had been working with Raleigh Radiology for months before the lapse to renew its existing policies, or to secure new ones, but failed to do so despite the submission of required paperwork, according to the complaint.”
No word yet on whether tighter underwriting and issues with security controls slowed the process. In many cases, would-be policy holders can no longer assume their initial or renewed coverage will come though as quickly as it once did.
[paywall may apply:]
A Raleigh firm alleges that its cyber insurance expired without its knowledge on the eve of a hack.
Source: Radiology Group Sues Broker Over Lapsed Cyber Insurance Policy