Risk policies to now include…

In response to the changing cyber landscape, Trisura Guarantee Insurance Company has announced that all corporate risk policies will now include complimentary access to privacy breach services provided by IDT911.

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In response to the changing cyber landscape, Trisura Guarantee Insurance Company has announced that all corporate risk policies will now include complimentary access to privacy breach services provided by IDT911.

Privacy breaches are becoming frighteningly frequent and those particularly at-risk are businesses managing sensitive information such as insurance brokers and financial institutions.

As one of North America’s primary identity and risk management companies, IDT911 has provided Trisura corporate risk policyholders with breach services since 2011.

"We initially included privacy breach services for those policyholders who requested the coverage," said Richard Grant, senior vice president of Corporate Risk, Trisura.

Estimated costs for breaches are not cheap according to the 2014 Ponemon Cost of a Data Breach report, which found the cost per breached record is approximately $145.

Grant continued, "We experienced an overwhelming response from brokers who urged us to include these services in all policies to enhance policy value and to facilitate the privacy breach discussion. Based on the great relationship we have with IDT911, along with our dedication to our brokers, it is a no-brainer to include complimentary breach services to protect all of our valued Corporate Risk policyholders."

Despite the fact the majority of companies who experienced a privacy breach had strong crisis management plans, these proactive and reactive privacy breach services are a needed tweak in order to keep pace with developments in technology and connectivity.

"Trisura has always been a leader in staying ahead of risks and offering their policyholders best-in-class solutions," said Matt Cullina, CEO, IDT911. "We're thrilled Trisura sees the value in offering privacy breach services to all Corporate Risk policyholders to keep their reputation and sensitive information in check."

Likewise, Grant sees the new policy not only as a way to stay head of technological developments but recognizes the competitive element as well, “Cyber extensions are becoming a standard offering on all commercial policies and we see a new group of insurance carriers get into the cyber solution space every year. We realize the tremendous value to offering these services on all our Corporate Risk policies that we're doing so at no additional expense to the insured.”
 

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