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May 31, 2022

CyberCube partners Kroll to launch incident response service

Cyber risk analytics provider CyberCube has allied with Kroll to launch a new incident response service for the cyber insurance industry.

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What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
  • Prepare for how regulation will impact cyber insurance over the next few years.
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by GlobalData
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The new offering, called the Cyber Aggregation Event Response Service (CAERS), is aimed at CyberCube’s clients who use its SaaS products. 

CyberCube will leverage its partnership with Kroll to provide clients with information and guidance on cyber threats. 

Kroll provides data, technology and insights about risk, governance, and growth. 

Based on the incident response cases it handles, Kroll will provide frontline threat intelligence.

In an event of a cyber-attack, the CAERS team will brief CyberCube’s customers, and the SaaS offerings will aid in responding to the incident to mitigate risks. 

CyberCube head of cyber intelligence services Darren Thomson said: “With cyber events becoming increasingly common, the speed and accuracy with which organisations respond to them is critical.

“The pressure on our clients during a major cyberattack can be extreme. With CAERS, our team—comprising data scientists, actuaries, engineers, economists and cyber security experts—will become an extension of our clients’ teams, providing the updates they need and sharing both our expertise and data.”

Kroll cyber risk practice chief operating officer Benedetto Demonte said: “We are pleased to be contributing to CAERS because effective incident response depends on the most current and relevant threat intelligence available. 

“It is only with access to frontline intelligence that firms can prioritise resources, mitigate the risk of a cyberattack and react appropriately if the worst happens.”

Earlier this year, CyberCube joined forces with Ultimate Risk Solutions, which provides actuarial capital modelling to the re/insurance sectors. 

Free Report
img

What will drive the cyber insurance market over the next 3 years?

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020. It will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19. Our recent report on Cyber Insurance reveals that cybersecurity was thrust into the spotlight in 2020 as COVID-19 forced businesses to digitize their processes and adopt remote working practices overnight. The pandemic also presented an opportunity for cybercriminals to exploit global panic, with a surge in cyberattacks occurring in 2020. The need for cyber insurance is apparent, but the market is not as easy to navigate as it once was. Use our report to guide and help you to:
  • Benchmark yourself against the rest of the market.
  • Ensure you remain competitive as new innovations and insurance models begin to enter the fray.
  • Prepare for how regulation will impact cyber insurance over the next few years.
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

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