Guardrisk distances itself from MIP cyber breach
The company says it has no exposure to the MIP breach, although a binder holder administering 6 000 funeral policies was affected.
Guardrisk has distanced itself from the MIP Holdings cyber breach, asserting that neither it nor its parent company, Momentum Group, are directly affected. In a statement to ITWeb, the insurer acknowledged reports of a ransomware attack linked to The Gentlemen, but stated that it found no evidence their systems or client data were breached.
Guardrisk stresses its separation from MIP Holdings, emphasizing that the group has no exposure to MIP. The insurer's assessment is that MIP's incident, involving its third-party Jira project management system, did not compromise its core systems or client policy databases. Notably, personal information for customers of approximately 45 South African insurance firms may have been exposed.
MIP's identification of The Gentlemen as the attacker prompted reporting to the Information Regulator. Guardrisk notes that one of its binder holders, involved in administering around 6,000 funeral policies, was impacted in the MIP-related incident. The affected binder holder has notified the Information Regulator and affected clients.
While Guardrisk's systems remained unaffected, the incident underscores the vulnerabilities posed by third-party technology and service providers to South African organizations. The insurer pledges to continue monitoring the situation and maintaining its security measures to safeguard clients and operations.
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