Porto Seguro

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2021: Hacker attack

In mid-October 2021, Porto Seguro, the largest player in the Brazilian auto insurance market, announced that the company had undergone a cyber attack, which led to a malfunction of the IT system and customer service channels.

The company reported the incident to the Securities and Exchange Commission (CVM) in October 14, 2021, stating that it promptly activated all of the security protocols within the company and that it was gradually restoring its operating environment and working to resume normal operations as soon as possible. Porto Seguro did not disclose any additional details regarding the type of attack it was subjected to, but noted that at the moment there has been no leak in the data of the company and its subsidiaries, customers or partners.

Brazil's largest car insurer Porto Seguro attacked by hackers

The third largest insurance company in Brazil, Porto Seguro leads the car and housing insurance segments in Brazil and has about 10 million customers in various areas of activity, including the provision of loans. The company was the last in the list of major Brazilian organizations affected by serious security incidents since the end of September 2021.

According to a study by the Datafolha Institute commissioned by Mastercard and published in June 2021, security groups are available in less than a third of Brazilian organizations, despite the fact that most companies are often subjected to cyber attacks. Financial services, insurance, technology and telecommunications are among the most prepared for cybersecurity, and the education and health sectors are the most vulnerable. The study aimed to determine the level of consumer concern in the data and information exchange environment, it showed that only 13% of respondents consider their data to be very safe, and 21% are unsafe.^[1]

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