New Zealand’s Vercoe Insurance Brokers recently confirmed that its IT systems were compromised by cybercriminals, prompting an investigation by external cybersecurity experts to determine the full scope and nature of the attack.

Despite the breach, Vercoe reassured clients that access to all systems has been restored and that operations have returned to full capacity. “Thankfully, it appears the impact on our ability to conduct our day-to-day work for our clients has been limited,” the company stated. It also expressed gratitude to its external providers for their swift response in restoring services.

Ransomware Group Claims Responsibility

On March 5, the ransomware group DragonForce claimed responsibility for the attack, alleging that it had exfiltrated over 60GB of data. In response, Vercoe immediately notified the Office of the Privacy Commissioner and the Financial Markets Authority, ensuring regulatory bodies were aware of the situation.

Ongoing Investigation & Client Notifications

The company is still working to determine what specific information may have been compromised. In the meantime, affected clients and relevant parties have been notified.

“Should the investigation identify that personal information relating to our broker clients has been impacted, we will be sure to notify them as appropriate,” Vercoe assured.

Commitment to Security & Best Practices

Vercoe emphasized that it is treating this incident with the utmost seriousness, working closely with its cybersecurity response team to mitigate risks and strengthen security protocols.

“We are taking this incident extremely seriously and working hard with our response team to ensure we respond appropriately and in line with best practice,” the company said.

About Vercoe Insurance Brokers

Vercoe Insurance Brokers operates out of Matamata and Morrinsville on New Zealand’s North Island, providing insurance solutions to individuals and businesses.

While the cyberattack underscores the growing threats facing financial service providers, Vercoe remains focused on protecting its clients and reinforcing its cybersecurity measures.