If your company faces a JLR situation, but actually has insurance, then this looks very useful;
Coalition Re, the world’s first Active Reinsurance provider designed to help cedants prevent cyber loss, today announced Coalition Re’s Live Event Response offering, an all-new reporting capability that alerts cedants about policyholders who may be exposed to an unfolding cyber event, such as a zero-day vulnerability.
“Most recently, we notified our cedants of policyholders in their portfolios being impacted by a pair of critical vulnerabilities in Cisco ASA firewall devices. These vulnerabilities were observed to be actively exploited in the wild and were confirmed to impact hundreds of devices used by the US Government,” commented Diana Liu, Coalition Re’s Head of Underwriting. “These types of aggregating vulnerabilities – ones we have first-hand knowledge that attackers are exploiting – are crucial for our cedants to be aware of so that they can mitigate the active threat across their portfolio and reduce their cumulative exposure.”
The alerts provided in Live Event Response are delivered via Coalition Re’s continuous, global internet-wide scanning of digital connections. Alerts are reserved for select, high-risk vulnerabilities as designated by Coalition Re. While these reports are not a determination of breach or loss, they serve as an early warning system and highlight which insureds may require attention to prevent compromise and the actual materialization of loss.
“While direct contact with the insured in the first 72 hours of a discovered vulnerability is the most critical and effective at preventing loss, control of the client relationship always remains with our carrier partners,” added Liu.
This new Live Event Response feature follows the introduction of Coalition Re’s Helios platform earlier this year, which enables cedants to gain visibility into critical technology and third-party supply chain vendor accumulations. Built on Coalition Re’s proprietary catastrophe model, Helios transforms emerging risk concentrations into strategic insights, allowing portfolio managers to focus on growing their business with greater diversification and peace of mind.
To learn more about Coalition Re, visit: https://www.coalitionre.com/.
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