CNA launches new cyber risk program

CNA launches new cyber risk program | Insurance Business

CNA launches new cyber risk program

CNA has announced the launch of a program of cyber risk services designed to help companies take a holistic approach to cyber threats.

CNA CyberPrep is a new addition to CNA’s suite of cyber liability insurance products and risk-control services. The program is based on the National Institute of Standards and Technology (NIST) and is rooted in partnerships with cybersecurity professionals, the company said. These partnerships will provide companies access to risk-control information and service providers to mitigate cyber exposure at every stage of a cyber incident.

“In today’s technology-driven world, cyber threats represent a critical and growing risk,” said Brian Robb, underwriting director and cyber industry leader at CNA. “The loss of sensitive information has caused companies of all sizes to face reputational harm, loss of confidential data and monetary losses for remediation and regulatory fines. We understand that businesses must stay ahead of emerging cyber risks and the security threats they pose. The key to safeguarding information starts with security.”

CNA CyberPrep is available to CNA cyber policyholders. The program provides services including:

  • Identifying current cybersecurity posture: Cybersecurity partners help insureds identify the strengths and weaknesses of their cybersecurity posture while also providing best practices.
  • Mitigating potential cybersecurity risk: Cybersecurity recommendations are put into action by experts to help insureds mitigate the impact of cyber breaches.
  • Response to cyber incidents: CNA’s incident-response vendors will help manage an incident’s impact after it occurs.

“It’s important to take a holistic view of cyber threats – no matter the size or industry of an organization,” Robb said. “CNA’s multifaceted, proactive approach will help identify security-control gaps as well as create baselines to address the potential impact of loss prevention and mitigation efforts from a cyber threat incident. With the proper preparedness and risk-mitigation tools, cyber threats are less likely to impact the bottom line of a company.”