Endurance Specialty launches cyber extortion advice team

A service that helps its insureds respond to ransomware and similar extortion events has been launched by Bermuda-based Endurance Specialty Holdings Ltd. The service, Breach Assist Counsel, comprises Mullen Coughlin LLC, a specialist in incident response legal services, and Kivu Consulting, a computer forensic company.

The idea is that Mullen Coughlin’s and Kivu’s expert teams work with ransomware victims to guide them as they respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency, analysing and testing decryption keys to ensure they are effectively and safely applied without further compromising the company’s network, and preparing documentation for reporting events to appropriate law enforcement agencies.

Brad Gow, senior vice president, Endurance Pro, said: “Companies faced with ransomware are often ill equipped to obtain Bitcoin or other cryptocurrency under tight deadlines. By providing our policyholders with access to experts to guide them through the payment and decryption processes, we assist them to minimise disruption to their business operations and execute the crisis response in a manner that best protects our insured from future harm.”

John Mullen, partner, Mullen Coughlin, said that the rapid growth in ransomware attacks is creating problems for both small and large organisations: “Given the increasing complexity of the attacks, some targets have experienced multiple extortions if they don’t effectively manage the initial response.”