IT services provider DXC Technology has confirmed that its subsidiary, Xchanging, has been targeted in a recent ransomware attack.
Xchanging is an insurance managed services business based in London that operates on a standalone basis.
DXC said it was confident that the incident is isolated to the Xchanging environment, and does not believe that data has been compromised or lost.
The company has implemented a series of containment and remediation measures to resolve this situation.
For example, DXC is working with affected customers to restore access to their operating environment, while also engaging with law enforcement and cyber agencies.
Reports by both Aon and Beazley showed that ransomware attacks increased by more than 130% in 2019, and by 25% in the first quarter of 2020.
And Willis Towers Watson has suggested that the growing number of ransomware incidents is responsible for a corresponding increase in cyber re/insurance rates.
