AJG victim of ransomware attack

Arthur J. Gallagher & Co. (AJG) disclosed that a ransomware attack forced the global enterprise to take its computer systems recently.

In a market disclosure with the US Securities Exchange Commission, the insurance broker said it is in “the process of restarting most of our business systems.”

“On September 26, 2020, Arthur J. Gallagher & Co. (the “Company”) detected a ransomware incident impacting a limited portion of our internal systems,” the federal filing read.

“We promptly took all of our global systems offline as a precautionary measure, initiated response protocols, launched an investigation, engaged the services of external cybersecurity and forensics professionals, and implemented our business continuity plans to minimise disruption to our customers.”

The attack also impacted subsidiary Gallagher Bassett Services. However AJG does not “expect the incident to have a material impact on our business, operations or financial condition.” The company is still assessing the impact of the attack.

It could have serious implications for customers and employees due to the highly sensitive nature of the data collected by insurers.