Topic: 
The recent cyber attack on CDK Global, a major provider of technical platforms for automotive dealerships.

Case Study: 
This attack serves as a significant case study in understanding how cyber attacks impact businesses and the responses from clients, third parties, and insurance companies.

Impact:

• The attack affected 15,000 car dealerships.
• Many dealerships were effectively shut down for about a week, unable to sell or service vehicles.
• Some dealerships resorted to using pen and paper, but many were unable to operate.

Aftermath:

• CDK eventually resolved the issue, but the legal process is now beginning.
• Dealerships are filing insurance claims for losses, including lost sales and overtime costs.

Insurance Coverage Considerations:

• It's crucial to understand what your insurance policy covers, especially regarding cyber liability.
• Standard policies may only cover direct hacks, not third-party breaches.
• Business Interruption Insurance (BII) may not apply unless there’s physical damage to the premises.
• Commercial insurance policies are often complex with various layers of coverage, endorsements, and exclusions.
• Cyber attacks are becoming the biggest risk to most companies, more so than natural disasters or other types of losses.

Advice:

• Consider obtaining a standalone cyber liability policy.
• Consult your insurance agent or broker to understand your coverage and exclusions.
• Know what you're covered for and make informed decisions about additional insurance needs.

Conclusion: Cyber liability and cyber attacks represent an evolving risk landscape. Understanding your insurance coverage is crucial to protecting your business from these new threats.

For more information and personalized advice, visit ActualHuman.com for live, one-on-one consultations with experts in insurance, business development, and more.