Cybersecurity Fears Real Warns Zurich

Zurich Insurance is to collaborate with cybersecurity experts to offer greater protection against cyber risks.

The underwriter has announced a new product in conjunction with cybersecurity company CYE to shield businesses against the growing risks of cyber-crime.

Zurich Cyber Security Services seek to address “the full spectrum of cyber-risks” by helping businesses define and deploy effective cyber risk management programs.

“Cyber is a very challenging risk for businesses as it is constantly evolving and highly complex,” said Sierra Signorelli, Chief Underwriting Officer, Commercial Insurance at Zurich. “Our collaboration with CYE, a global leader in cybersecurity services, will give customers a state-of-the-art cyber-solution that combines the benefits of insurance with a boost to their cyber-defences.”

Zurich added: “Cyber space is a dangerous source of crime and disruption and one of the top risks for businesses, says the Global Risks Report published by the World Economic Forum in partnership with Zurich. As cyber-attacks increase in severity and frequency, companies can make themselves more resilient by strengthening risk strategies for cybersecurity and insurance.”

The underwriter said the key benefits of Zurich Cyber Security Services include closing unknown security blind spots, reducing the risk and impact of security incidents, ensuring proactive protection of critical business assets, and appropriate budget and resources allocation. Zurich Cyber Security Services is available to companies globally.