Geoff Gussis, Esq.

Companies – technology or otherwise – should make sure that insurance and insurance-related services are part of their risk management program. The press release below relates to a new service from Crum & Forster. When evaluating insurance products and services, companies should work closely with their insurance advisors to understand what coverage is being provided – as insurance policies typically come with lengthy exclusions, exemptions and limitations. While I am not familiar with Crum & Forster’s policies and services specifically, they are one of the providers in the field that offer services relating to cyber risk. Talk with your insurance advisors about making sure you have appropriate coverage and limits in place to deal with cyber and other risk areas – and you should review your policies no less than annually.

Crum & Forster® (C&F) announced today that it has launched a new service to assist policyholders in their effort to effectively manage and protect against cyber risk.

Network attacks and privacy violations are occurring with increasing frequency. Even with strong security and privacy controls in place, companies can be victimized by internal fraud, business interruption, damage or theft of data and cyber extortion.

To help mitigate loss exposures and provide superior service to customers, C&F has announced the availability of eRisk Hub®, a private Web-based portal (http://www.eriskhub.com) to provide policyholders with information and technical resources that can assist them in the prevention of network, cyber and privacy losses and support them in the timely reporting and recovery of losses if an incident occurs. The portal is powered and maintained by NetDiligence®, a leading cyber risk assessment services company.

Crum & Forster understands that once an incident occurs, clients may need immediate help and expertise to respond and recover. Because incidents can be very complex, these companies may need assistance across a broad range of disciplines, including legal/regulatory compliance, information technology (IT) security, privacy, disaster recovery/business continuity, computer forensics, forensic accounting, public relations, credit monitoring and law enforcement.

[via Crum & Forster® Launches New Service to Protect against Cyber Risk -- MORRISTOWN, N.J., Aug. 17, 2011 /PRNewswire/ --.]