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MOVEit Cyber Ransom Incident: Westfield Specialty Cyber Leaders Explain What Happened and What to Expect From Cyber Insurance Carriers

In late May 2023, threat actors began exploiting a zero-day critical security vulnerability in the MOVEit file transfer software. These bad actors have asked the victims to reach out via email for the ransom demand amount in order to avoid publication of the exfiltrated data on its website. To date, the list of victims range in size and can be found across multiple industries and as publicly reported, includes many state and federal government agencies. Westfield Specialty cyber leaders discuss the vulnerability and how carriers might respond.