Appears that the worst is over for the WannaCry Ransomware attack. As many of you know this attack has it genesis from a cyber-attack/data breach on the NSA last year that showed vulnerabilities in older versions of Microsoft’s operating systems and not up-to-date versions of Windows 10 desktop and Windows Server Systems. While the worst may be over for this particular attack, experts are stating that it may only be a short period of time before another variant of The WannaCry Ransomware is unleashed. As particular attack exploited vulnerabilities of out of date Microsoft operating systems for servers and desktops, experts also state the following:
1. Immediately update both desktop and Windows systems with the Microsoft patch MS17-010
2. Notify your users to be extra cautious right now – even clicking on a suspicious attachment could instigate a ransomware attack. Some signs of suspicious e-mails are:
a. You do not recognize the sender or if you know the sender, the message does not look like something they would send
b. The subject and or attachment name is vague or confusing
c. Spelling or grammar errors
d. You are part of many people who have been sent the message
e. The message is unexpected or not business related
Beyond this the ABA Standing Committee on Ethics and Professional Responsibility has issued Formal Opinion 477. Part of this Opinion now states that there is a fact based test for determining if an attorney has violated his duty:
“Recognizing the necessity of employing a fact-based analysis, Comment [18] to Model Rule 1.6(c) includes nonexclusive factors to guide lawyers in making a “reasonable efforts” determination. Those factors include:
1. The sensitivity of the information
2. The likelihood of disclosure if additional safeguards are not employed,
3. The cost of employing additional safeguards,
4. The difficulty of implementing the safeguards, and
5. The extent to which the safeguards adversely affect the lawyer’s ability to represent clients (e.g., by making a device or important piece of software excessively difficult to use).”
Given the frequency of Cyber incidents, it is not a question of when your firm will have a cyber-attack, but when. A properly endorsed Cyber Liability/Data Breach Insurance policy can assist in responding to these attacks when the worst happens. How many firms could be without their systems after a Ransomware Attack for 90 days like the Rhode Island firm recently Blogged about. Contact L Squared Insurance today to get Cyber Liability/Data Breach in place.