Cyber for Plan Sponsors

Even NASA Can Get Hacked


You may think that you have got the latest training and safeguards against cyber attacks, but if even NASA can get hacked, how safe are you really?

The U.S. National Aeronautics and Space Administration, the people who landed on the moon, admitted that they were the victims of a cyber attack resulting in a data breach in October 2018. An unknown assailant found a way to invade the gain access to a NASA server storing current and former employee personal information, including Social Security Numbers. Employees were not notified of the breach and theft of personal information for nearly two months after the hack was discovered by the agency.

Months after discovering the breach, NASA was still unaware of the breadth of the breach and how much information was compromised. Those employed over a twelve-year span at the agency were possible victim of the breach. That is not exactly a small number of people affected.

No missions were affected but NASA stated that it would take time investigate the attack and take adequate countermeasures to prevent future attacks.

So, you may be thinking that if you merely provide proper cybersecurity training for employees and employ an IT consultant that you’ll be safe from cyber attacks. But if even a place like NASA, that launches people into space, can fall victim to a cyber attack and data breach, nobody is safe. If it can happen to them, what is preventing it from happening to your company?

Manage and contain data breaches with Colonial’s 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.