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No two companies look identical when it comes to data security and management or strategies around technology investment. Subsequently, no breach will affect two companies the same. The question then becomes, how is EmergIn Risk able to provide integrated cyber insurance solutions? The answer is we have created a solution which takes the following key targets into consideration:

The C-Suite and Board

Many executives are taking a broader interest in IT investment and data security management as a result of their responsibility to offset operational and financial implications of a cyber event. Executives are required to establish appropriate risk management protocols around breach response, business continuity and disaster recovery planning. The C-Suite should view insurance as an integrated solution working with the protocols developed and installed by the company to manage a cyber event.

Risk Managers

Challenged with developing the strategic planning for optimal performance management in the event of crisis, cyber events are a real threat that should be continuously under consideration. Risk Managers are the conduit linking all internal corporate stakeholders (management, IT, legal, PR, etc.), as well as external vendors, to manage through cyber events. Depending on the size and sector of company and its perceived exposure, Risk Managers may decide to interact with the insurance market in a variety of different ways. From pure risk transfer (for loss of net income, increased costs of working, crisis management, or even liability) to being able to access vendors, insurance will help mitigate the shock to performance management triggered by a cyber event.

IT Management, IT Security, and Information Security Teams

Even with the best security teams and protocols in place, cyber events can happen. The question is how you can help shape the insurance purchasing decision. By working with your procurement team to identify vulnerabilities and simulating cyber event scenarios, insurance can be tailored to your specific requirements. Solutions can be created to align outside specialists with your teams, or simply to help cover the cost of engaging your own response strategies.