Insurer Chubb Investigating a ‘Computer Security Incident’

By Suzanne Barlyn | March 31, 2020

Insurer Chubb Ltd on Thursday said it is investigating a computer security incident that may involve unauthorized access to data held by an outside service provider.

Chubb has no evidence that the incident affected its network, a spokesman said. “Our network remains fully operational and we continue to service all policyholder needs, including claims,” the spokesman said.

A hacker group that deploys the “Maze” ransomware claimed to have locked up devices on Chubb’s network during March, the website reported on Thursday.

The Chubb spokesman declined further comment.

Chubb is among the largest U.S. cybersecurity insurers.

Ransomware is a type of malicious program that hackers use to take down systems that control everything from hospital billing to manufacturing. They stop only after receiving hefty payments.

Hackers who deploy Maze take the strategy even further by posting online the names of companies that refuse to pay.

Ransomware attacks skyrocketed by 131% in 2019 compared to the previous year, according to a report on Monday from cyber insurer Beazley.

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