An expanded suite of cyber loss mitigation services is now available to help Chubb’s U.S. and Canadian policyholders reduce the impact and likelihood of a cyber incident.
Chubb’s expanded suite of cyber services for loss mitigation includes:
Password Defense—Available to cyber policyholders’ employees, Password Defense helps improve cyber security by making it easier for employees to create and use stronger passwords. It motivates individuals to keep healthier password habits by generating strong passwords for websites, storing them in a secure vault, and synchronizing them across multiple devices.
Online Cyber Education—With the new security awareness training offering, cyber policyholders have access to two online cyber education courses that can be quickly and easily deployed to educate employees: Security Awareness Basics and Security Awareness for Information Technology. The system also enables managers to download reports to identify employees who have completed the courses.
Premier Cyber Partner Network—All commercial policyholders now have access to a preferred panel of pre-qualified cyber risk service providers — often at preferred rates. Previously, only cyber policyholders had access to cyber-related services. The partner network was formed to address key security and privacy concerns that were identified following an analysis of proprietary loss data. These concerns include:
- Malicious software
- Insider threats
- Unencrypted sensitive data
- Security operations
- Security and privacy regulations
In addition, cyber policyholders will continue to have access to a package of Signature Assessments, designed to help organizations quickly gauge and understand key areas of risk. These consultative engagements are performed by a select group of industry-leading service providers to:
- Validate a cyber incident response plan.
- Identify sensitive information.
- Simulate a phishing attack.
- Scan for network vulnerabilities.
- Monitor cyber security scores.
Lemonade Preps for National Expansion in 2017
Lemonade, the insurance company powered by artificial intelligence and behavioral economics, announced it has filed for a license in 46 states and the District of Columbia, in addition to New York where it was licensed three months ago. Lemonade hopes to become available to 97 percent of the U.S. population during 2017.
Three remaining states, Mississippi, Washington and Wyoming, have strict statutory waiting times, and Lemonade plans to file there once these have been met.
NORCAL Mutual Acquires PPM Services
NORCAL Mutual Insurance Company completed its acquisition of PPM Services, the holding company for Preferred Physicians Medical Risk Retention Group, Inc., following shareholder and regulatory approval. The acquisition will result in a partnership between NORCAL and PPM that furthers NORCAL’s national expansion.
PPM is the only anesthesia-specific medical professional liability insurance carrier in the nation, insuring anesthesia practices in over 40 states. PPM will remain in Overland Park, Kansas, and continue to be led by President and CEO Steven Sanford.
PPM Services is now a wholly owned subsidiary of NORCAL Mutual and PPM has converted from a stock company to a mutual company, which is reflected in PPM’s formal name change to Preferred Physicians Medical Risk Retention Group, a Mutual Insurance Company.
PPM Services and PPM were advised in this transaction by Waller Helms.
Solera Holdings, Inc. to Acquire Autodata
Solera Holdings, Inc., a global provider of data and software for the automotive, home ownership and digital identity management ecosystems, announced it has entered into a definitive agreement to acquire Autodata, a leading provider of technical information and knowledge solutions for the automotive service, maintenance and repair industry.
Founded in 1975, UK-based Autodata has evolved from publishing do-it-yourself manuals for car enthusiasts and garages, to delivering fully digital cloud-based diagnostics and repair intelligence for professional mechanics. Powered by data from 136 vehicle manufacturers covering over 40,000 models worldwide, Autodata’s solutions today are deployed by over 90,000 repair shops in over 40 countries for best-in-class coverage, accuracy, reliability, and efficiency. Autodata has been owned by Bowmark Capital and Rothschild & Co’s Five Arrows Principal Investments since 2014.
Was this article valuable?
Here are more articles you may enjoy.