What:
CloudCover has launched Cybersecurity Network Data Insurance (CNDI), the first cyber insurance offering to give organizations the ability to insure data in motion.
Why:
CNDI allows companies to place a value on their intangible assets, i.e., their data – just as they would on other assets. And it comes at a time of rising cyber-attacks, high premiums, and ineffective coverage.
How:
- CNDI enables organizations to insure data in motion with both first- and third-party liability coverage.
- The foundation of the CNDI coverage is CloudCover’s CyberSafety CC/B1 Platform.
- The CC/B1 provides an organization complete visibility into their network security systems, using machine learning to inspect, analyze, and understand the IT events happening within their network and stopping those threats in real-time.
- As it understands and learns a network’s data patterns, the CC/B1 uses that data to underwrite and set premiums – creating a continuous cycle of risk learning, stopping, and scoring.
- The risk to a company’s data and network is measured and insured via deep packet inspection – as the more incremental you can get with data, the more efficiently you can protect it.
- CNDI coverage is currently available to organizations that use the CC/B1, or to fronting carriers who wish to partner to offer the cyber insurance to existing clients.