Eleven Risk Solutions is modernizing the cyber insurance industry.
“In an ideal world, insurers would offer cheaper insurance to companies contingent on better security controls. Insurers would also inform organizations seeking coverage about the controls they could implement to cost effectively reduce risk. So far, cyberinsurance is a nascent field and is offered by private companies, while policy-makers are experimenting with mandates and incentives to increase the adoption of insurance.” – World Economic Forum Cyber Resilience Playbook, published January 12, 2018
SOLUTIONS WE PROVIDE
ERS provides a holistic technology approach to cyber insurance. Our underwriting tool allows for insurance to be priced competitively based on end use security posture.
Industrial Control System
WHY GET INSURED?
The only security you have to protect your assets Internet-based and information technology infrastructure risks.
COST OF CYBERCRIME
The costs associated with cybersecurity incidents often include disruption of business, erosion of customers, loss of revenue, forensic investigations, customer notification, regulatory fines, legal penalties, attorney fees, brand and reputational damage, loss of intellectual property, and the exposure of sensitive or confidential personal and business information. Data breaches can cost businesses millions of dollars.” PricewaterhouseCoopers, CRO Forum, Cyber Resilient Paper
The cost of cybercrime A study carried out by the Center for Strategic and International Studies in 2014 estimates the annual cost of cybercrime to the global economy to be over $400 billion, and possibly as much as $575 billion.
FAST-CHANGING THREAT LANDSCAPE
Targeting personal and payment information and held funds.
Targeting core business activities to publicize a cause or industry scandal.
Creating economic disruption, property damage and loss of life.
To gain commercial advantage, offensive capability or political leverage.
Typically an aggrieved employee targeting personal gain.
A customer grievance expressed through an untargeted, ‘proof of ability’ attack.
Coverage options include:
- Technology liability
- Business interruption
- Cyber terrorism
- Reputational risk
- Internet/On-line media liability
- Intellectual property
- Identity theft
- Cyber extortion
- Electronic payment transactional fraud
- PII reporting cost
- Merchant data theft
Merchant data theft
- Financial Institutions
- Hospitality and leisure
- Service industries