US-based insurance company CNA Financial (CNA) has launched a cyber risk service that allows companies an extra means of tackling and managing cyber threats
The programme, CNA CyberPrep, which is the latest addition to CNA’s already extensive cyber liability insurance offering, allows companies to identify current cybersecurity posture (while also providing best practices), mitigate potential cybersecurity risk (thanks to its expert insight) and respond to and help manage cyber incidents after they have occurred.
The programme also enables service providers to mitigate cyber exposure, and this is in large part thanks to CNA CyberPrep being based on the National Institute of Standard and technology (NIST) and having partnerships with cybersecurity professionals.
“The key to safeguarding information starts with security,” noted Brian Robb, Underwriting Director and Cyber Industry Leader at CAN. He explained that the loss of service information has caused companies to face reputational harm, loss of confidential data and monetary losses for remediation and regulatory fines.
“It’s important to take a holistic view of cyber threats – no matter the size or industry of an organisation,” 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.”