IronPro, Ironshore’s financial and professional lines unit, is introducing a suite of enhanced cyber and Technology E&O products customized for the Canadian marketplace. IronPro’s cyber and tech products will also provide eligible Ironshore Highly Protected Information (HPI) policyholders with cyber monitoring and alert services (CMAS) during the policy period.
IronPro has engaged the information security firm, BorderHawk, to offer CMAS services that detects potential threat indicators and extrapolates such knowledge into a proactive indication and warning process for IronPro Insureds.
CMAS generates and transmits a cyber risk warning alert to a predetermined point of contact at the insured for immediate action in the event of a potential risk.
Cyber risk warning alerts signal potential vulnerabilities or threats associated with a specific IP address, thereby indicating heightened risk exposure to the client entity.
“We recognize that while ‘alerting’ systems can be a critical component of cyber security programs, most organizations depend on ‘accidental discovery’ to initiate investigations of malicious cyber threats,” said Steve Akridge, president of BorderHawk. “IronPro clients will be notified when questionable activity occurs, providing a more responsive investigation when primary security tools do not recognize a potential threat.”
David Tran, senior vice president, IronPro Canada said the IronPro’s risk management offering complements it specific asset-class PrivaProtector policy form to address risk exposures for critical infrastructure insureds within the healthcare, financial services, professional services, manufacturing and commercial facilities sectors.
Akridge noted that CMAS is becoming a critical component of an organization’s overall security infrastructure as it addresses recent reports that some malware solutions “demonstrate an estimated recognition effectiveness of only 60 percent and malware dwell times of nearly twenty-four months before discovery is the norm in detecting potential threats.”
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks located throughout the world. Select specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000.
BorderHawk is a cybersecurity firm composed of information security professionals with offices in Atlanta and Anchorage, Alaska.