“I had no idea what my cyber insurance covered. My broker told me I could call BOXX Hackbusters any time I wanted without having to make a claim. Expert advice 24-7. That’s what I was going to need to get through this mess.”
After 20 minutes on the phone with the Hackbusters, Ellie learned she and Josette were the victims of a social engineering attack. It was the kind of cyberattack that typically involved hackers tricking people into parting with sensitive information or money.
The Hackbusters verified that Ellie’s business email remained secure thanks to the company’s use of multi-factor authentication (MFA) logins. They investigated meticulously, requesting copies of all correspondence between Montclair Orchards and Josette’s Jardin. It didn’t take them long to piece together what happened.
“That email that was sent to Josette—the one with updated banking information—it didn’t come from us.” Ellie explained. “It came from ‘monclairorchards.ca’. We’re ‘montclairorchards.ca’. The missing “t” was the smoking gun.”
It was called “spoofing” and it was what tricked Josette into paying cyber thugs instead of her supplier. The scammers had hacked into Josette’s business email account to learn about the payment arrangements between the two companies. This meant that while both businesses were victims of a sophisticated social engineering attack, Montclair Orchards wasn’t liable. Ellie was relieved, but she worried that proving her company wasn’t at fault might not be enough to salvage her valuable working relationship with Josette.
To help with this, the Hackbusters drafted a letter to Josette, carefully outlining the findings of their investigation. It was an invitation to discussion. Josette’s Jardin had clearly been socially engineered into sending money to scammers and the BOXX Hackbusters team was on hand to help. They answered Josette’s questions and helped her understand how her own cyber vulnerabilities had exposed both companies to an attack.
The Hackbusters advised Josette to contact her bank and law enforcement to recover the funds. They helped Josette improve her cyber security courtesy of the complimentary services included in Ellie’s BOXX Insurance package. To Ellie’s delight, Josette directed her brokers to secure her own BOXX cyber insurance, now that she’d experienced firsthand the risks of doing business in a digital world. “We were lucky,” Ellie reflected. “The bank recovered Josette’s money and we got paid. Josette remains one of our best clients. Without BOXX and the Hackbusters team, I don’t know that everything would have worked out this well and all without the need to make a claim”
The BOXX approach to cyber insurance is ALL IN ONE, emphasizing training small businesses’ employees, and predicting and preventing cyber events, so clients rarely have to claim. Most cyber threats are managed, and cyber events get robust and effective responses, making claims rare.
With a focus on prediction and prevention, Cyberboxx Business helps small to mid-sized businesses build digital resilience. With protective tools, training and access to world-class incident response and recovery services, it’s no wonder more Canadian brokers choose BOXX for their small business clients.