Sompo International Forms Cyber Team, Expands Insurance Offering

December 11, 2018

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has expanded its cyber insurance capabilities with the introduction of a dedicated U.S. team focused on cyber offerings, an enhanced cyber and professional liability product, and an expanded suite of cyber risk management services.

The cyber underwriters, who are located across the U.S., will focus exclusively on marketing and underwriting Sompo International’s cyber product offerings that complements the E&O and professional services products available through Sompo Pro, its professional liability insurance unit.

Jeff Kulikowski, senior vice president, Cyber and E&O Underwriting, and Richard DePiero, senior vice president, U.S. Cyber Product leader, will lead the practice.

Sompo International’s dedicated cyber team now offers a Premier Professional policy that provides companies of all sizes and industries access to a full range of professional liability and cyber coverage through a single policy form. The product has also been enhanced to include coverage for General Data Protection Regulation (GDPR) violations, non-malicious systems failures, unintentional breaches of contract and IT vendor outages. Coverage can also be extended to include malicious and permanent disabling (i.e., bricking) of IT equipment and social engineering threats.

In addition, Sompo Premier Professional clients have complimentary access to an expanded set of risk management services provided by cyber security professionals to help assess their exposure to cyber risk, improve their network security and respond more effectively to data breaches and other network crises. Complimentary services available to Sompo International insureds include:

  • Comprehensive social engineering testing provided by Kivu, covering email spoofing and phishing campaigns
  • Vrtual Chief Information Security Officer (vCISO), offering general network management advice and emergency technical assistance offered by Crypsis
  • Annual detailed security risk rating analysis, identifying information security strengths and weaknesses delivered by BitSight
  • A critical vulnerabilities and exposures self-assessment survey tool from NetDiligence
  • An interactive guide to breach-focused incident response planning provided by NetDiligence.

Clients can also access a full range of additional scan testing, tabletop exercises, security checkups and cyber threat assessment services at discounted rates from the company’s network of industry-leading cyber security experts.

According to DePiero, the expanded cyber capabilities will make it easier for companies to customize their coverage options and obtain risk management advice, diagnostic tools and response assistance.

Sompo International Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine, energy, casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance.

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