The insurance giant Allianz has grown its cyber response team to fight financial crime, distributed denial of service (DDoS) and other such malfeasance by partnering with specialists at Incoming Thought. The information security consultancy will provide experts to help the insurance firm’s clients recover from a cyber-attack.
In response to the growing threat of cyber-criminality imperilling both corporate and small to medium-sized enterprises (SME), Allianz Global Corporate & Specialty (AGCS) recently launched its Allianz Cyber Protect project to enable its insurance clients to better protect themselves against cyber criminals, data loss and all the potentially harmful ramifications of an online attack. The unit is now partnering with the Incoming Thought consultancy to further strengthen their capabilities.
Key elements of Allianz Cyber Protect include:
• A comprehensive policy offering cover up to a limit of €50m and covering a broad range of cyber exposures.
• Three levels of business interruption cover that can be tailored to the client's needs.
• Immediate access to a crisis response team, including a partnership with Incoming Thought specialists, who can help firms recover.
By joining the crisis response team Incoming Thought is able to offer timely, specialised advice for when an Allianz Cyber Protect customer has been subject to a data breach or cyber-attack. The consultancy has an investigation and ‘triage methodology’ developed over many years of dealing with such incidents, which it claims can help firms recover more quickly.
“Every incident we deal with is different,” explains Nigel Stanley, chief executive of Incoming Thought. “Incidents can range from the loss of a laptop through to complex international cyber espionage cases, and you never know what you will be presented with when a client gets in touch. Many cases require a more complex response than just digital forensics.
“Cyber insurance is an attractive option for helping to manage organisational risk, and we see more and more clients opt to insure against these loses,” he added.
By Neil Ainger