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December 21, 2021

CloudCover launches new cyber liability and business interruption cover 

CloudCover , a cybersecurity and insurance technology platform, has launched new cybersecurity insurance solutions to improve clients’ safety online.

Free Whitepaper
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Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

The new offerings, called CloudCover Cyber Liability (CCCL) and Information Systems Business Interruption (ISBI) insurance, are part of the CloudCover insurance product suite.

CloudCover claims that the new cyber covers bring forth a new market category: cybersecurity network and data insurance cover.

The CCCL insurance will cover first-party response costs, third-party liability and regulatory costs and ransom.

The ISBI insurance provides coverage against loss of revenue due to cyber-attacks causing disruption of services or affecting the insured’s network.

CloudCover noted that through CCCL and ISBI it will issue a $1m cover for every cyber incident and a $10m aggregate cover.

Both CCCL and ISBI are powered by CloudCover’s CC/B1 Platform, which operates as a firewall everywhere.

It collects data from an organisation’s network and uses machine learning to detect, analyse and stop suspicious activity.

CloudCover founder and CEO Stephen Cardot said: “No other security vendor is able to provide cybersecurity risk scoring, risk event mitigation and mediation, accurate identification and threat stopping, and cyber risk insurance underwriting and auto-adjudication for claims in one platform.

“Using cybersecurity technology to learn about a company’s network and utilizing that data to create more accurate premiums and better coverage gives our industry the opportunity to better control cybersecurity insurance losses in the future, as we’ll be able to detect threats and issue micro-policies in a fraction of a second.”

In February next year, the firm plans to launch the final product of its CloudCover insurance product suite called, Cybersecurity Network Data Insurance.

It will insure data in motion with both first- and third-party liability coverage.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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