Cyber for Plan Sponsors

Microsoft Emails Hacked in Breach


Some of Microsoft’s email services, which include Outlook, MSN, and Hotmail, were breached by hackers with users’ email addresses, folder names, email subject lines, and names of email addresses users communicated with between January and March 2019 stolen. Six percent of those email addresses hacked may have seen their email content become accessible to the hackers as well. Click here to learn more.

Microsoft is one of the largest tech companies in the world, as its products including Windows, Outlook, and Microsoft Office are widely used by both individuals and companies alike. If even they can’t keep up with cyber attackers’ latest attack strategies and methods, almost anyone can get hacked.

How can I mitigate and contain a potential data breach? Cyber liability insurance!

Colonial Surety includes cyber liability insurance with our ERISA fidelity bond packages with fiduciary liability insurance to best protect your company plan against a cyber attack.

Colonial’s cyber insurance provides a services-based solution to help plan sponsors manage data breaches successfully. These services include a dedicated team of cyber breach professionals who assist plan sponsors at every stage of incident investigation and breach response. These professionals coordinate the carefully vetted forensics experts and specialized lawyers to help plan sponsors establish what’s been compromised; assess plan sponsor responsibility; and, notify those individuals affected. In addition, these services will also coordinate credit or identity monitoring, and PR advice to help the plan sponsor safeguard its reputation. Of course, Colonial’s cyber insurance also indemnifies and defends plan sponsors from covered lawsuits or regulatory actions, the risk of which may be reduced by a well-coordinated breach response, but can never be completely eliminated.

Ongoing governance and evaluation of recordkeepers can help protect data, but the only way to fully protect against a potential cyber attack’s data breach is to purchase cyber liability insurance from Colonial Surety Company.