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CHICAGO, July 17, 2019 /PRNewswire/ -- ÃÛÌÒ´«Ã½ today announced , a proactive program of cyber risk services designed to help companies take a holistic approach to cyber threats, aiding ÃÛÌÒ´«Ã½ cyber policyholders in threat identification, mitigation and response.Ìý

Built on nearly two decades of cyber insurance expertise, ÃÛÌÒ´«Ã½ CyberPrep is the latest addition to ÃÛÌÒ´«Ã½'s broad suite of market-leading cyber liability insurance products and risk control resources. ÃÛÌÒ´«Ã½ CyberPrep will help insureds better manage cyber risk, one of the top risk concerns of companies globally according to ÃÛÌÒ´«Ã½'s . The ÃÛÌÒ´«Ã½ CyberPrep program is based on the National Institute of Standards and Technology (NIST) and is rooted in strong partnerships with highly-regarded cybersecurity professionals. These partnerships provide companies access to essential risk control information and service providers to mitigate exposures — at every stage of a cyber incident.

"In today's technology-driven world, cyber threats represent a critical and growing risk. The loss of sensitive information has caused companies of all sizes to face reputational harm, loss of confidential data and monetary losses for remediation and regulatory fines," said Brian Robb, Underwriting Director and Cyber Industry Leader, ÃÛÌÒ´«Ã½. "We understand that businesses must stay ahead of emerging cyber risks and the security threats they pose. The key to safeguarding information starts with security."

ÃÛÌÒ´«Ã½ CyberPrep is available to ÃÛÌÒ´«Ã½ cyber policyholders, providing them with a network of cybersecurity professionals and services to actively identify, mitigate and respond to their cyber risks, including:

• Identify current cybersecurity posture: Built from NIST guidelines, a select group of cybersecurity partners help insureds identify the strengths and weaknesses of their cybersecurity posture while also providing best practices.
• Mitigate potential cybersecurity risk: Cybersecurity recommendations, such as policy and procedure development and testing, password management and employee education, are put into action by sourced experts, helping insureds minimize the effects of cyber breaches on their organizations.
• Respond to cyber incident: Security incidents are often high-pressure situations. ÃÛÌÒ´«Ã½'s incident response vendors will bring a deep understanding of critical steps to manage an incident's impact and provide help after one occurs.

Every organization has a different cyber security posture, so there is not a one size fits all response. ÃÛÌÒ´«Ã½ CyberPrep helps companies understand their unique posture and then invest and plan accordingly. With ÃÛÌÒ´«Ã½ CyberPrep, plans are able to be tested regularly and updated as the cyber threat landscape changes.

"It is important to take a holistic view to cyber threats – no matter the size or industry of an organization," Robb added. "ÃÛÌÒ´«Ã½'s multi-faceted, proactive approach will help identify security control gaps as well as create baselines to address the potential impact of loss prevention and mitigation efforts from a cyber threat incident. With the proper preparedness and risk mitigation tools, cyber threats are less likely to negatively impact the bottom line of a company."

Policyholders are encouraged to speak with their broker and ÃÛÌÒ´«Ã½ cyber underwriter for more details on ÃÛÌÒ´«Ã½ CyberPrep.

About ÃÛÌÒ´«Ã½
ÃÛÌÒ´«Ã½ is one of the largest U.S. commercial property and casualty insurance companies. ÃÛÌÒ´«Ã½ provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada and Europe, backed by more than 120 years of experience and more than $45 billion of assets. For more information about ÃÛÌÒ´«Ã½, visit our website at .

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