Henderson Brothers’ cyber liability practice group needs you to be aware of one of the latest, most significant cyber attacks to date: in recent days there have been alerts about a “Hafnium” attack on global email servers. This issue is very widespread and could impact more than 60,000 companies. This is important to note, and our clients/partners should be vigilant in making sure their email system has been patched if they are using an on-premise version of Microsoft Exchange.

Per Microsoft’s own guidance, “the attacks included three steps. First, it would gain access to an Exchange Server either with stolen passwords or by using the previously undiscovered vulnerabilities to disguise itself as someone who should have access. Second, it would create what’s called a web shell to control the compromised server remotely. Third, it would use that remote access – run from the U.S.-based private servers – to steal data from an organization’s network.”

What does this mean for your organization and your cyber liability risk/cyber liability insurance policy? You should immediately run all Microsoft Exchange updates.  Next, you should review your cyber liability risk management program, including third party/contingent risks, to ensure you have the measures in place to correct and/or adequately respond to exposed vulnerabilities and direct attacks.

Read the full Microsoft blog post, New nation-state cyberattacks

Please note that the information contained in this posting is designed to provide general awareness in regard to the subject matter covered. It is not provided as legal, medical, or tax advice, nor is it intended to address all concerns in your workplace or for public health. No representation is made as to the sufficiency for your specific company’s needs. This post should be reviewed by your legal counsel or tax consultant before use.