CYBER RISK INSURANCE

With over 94% of attacks initiated via social engineering and over 70% of corporate breaches via spear phishing, the need to perform social media & deep / dark web 'Health Checks' is paramount in both insurance premium policy pricing & underwriting.

WHAT CYBER RISK or SOCIAL ENGINEERING COVERAGE DOES MY ORGANIZATION ACTUALLY CARRY?

Identifying specific risks that create cyber liability is an integral part to this growing sector.  PiiQ Risk impacts this sector by supplying key Risk Assessments in respect of key executives, the organisation and its corporate Privacy & Social Media Use policies. For Organizations directly, it also makes sense to preemptively shore up these weakened attack surfaces to get the best premium pricing and policy coverages available.  

We mitigate the impact of the following threats;

§  Social Engineering & Phishing
The majority of cyberattacks begin with the attacker conducting some form of reconnaissance of a target's social media and internet presence.  Once sufficient intelligence is gathered the attacker attempts to compromise the target for financial gain or further compromise of their network

§  Third Party Risk Management (TPRM)
Many companies do not identify crucial risks in the supply chain or during M&A. Cybersecurity has long been the hidden cost in business transactions and its quickly coming to light as a driving factor for valuation. Illegal & unethical practices and poor cybersecurity protocols are still being conducted by third party partners, resellers, channels, and suppliers, even. The key gap in due diligence is also to score those 3rd and 4th parties outside the traditional Tier One 'close to home' sector.

§  Privacy and Social Media Use Policies
Outdated or even non-existent policies especially outside of Tier One 'close to home' third parties can provide increased risk for threat actors to expose.   Once a third party is compromised the avenue is open to exploit linked companies.

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