05.04.20
Lauren Winchester

Corvus Premier Services: Enhanced Client Preparation for Cyber Attacks

Today we’re pleased to share some new ways for brokers to help their larger clients better predict, prevent and prepare for cyber incidents.

We can’t believe spring is already here! We’ve been launching products, opening new offices, and pushing our technology to new heights.

Working in Breach Response, I’ve helped hundreds of policyholders experiencing the nightmare scenario: systems locked down, unable to operate, and unreliable criminals on the other end of the line demanding thousands of dollars. 

The bad news is that this can happen to any company: even the best defenses aren’t perfect. There’s always the “people risk” factor that’s impossible to eliminate, and a never-ending stream of new threats that is tough for even the most enterprising CISOs to keep ahead of. 

The good news is that your clients can make these incidents a lot less painful if they take the right steps to prepare their team. They may even reduce their risk as well, by identifying weak points in their security posture and remediating them. 

Introducing Corvus Black 

Today we’re pleased to share some new ways for brokers to help their larger clients better predict, prevent and prepare for cyber incidents. 

First released to Corvus broker partners earlier this year, Corvus Black is a set of premier services for accounts with over $100 million in annual revenue.

Today We Are Announcing Three New Services to the Menu for Corvus Black Accounts:

  • An Onboarding call with the Corvus VP of Smart Breach Response (that’s me!)

  • Incident Response Plan Creation or Review 

  • Virtual Incident Response Tabletop Exercise

These services now appear in the Corvus Black services listing in the CrowBar, along with other services. These include IT scans for your clients’ key vendors to assess third-party cyber risk -- a unique offering only from Corvus -- and detailed walkthroughs of your clients’ own security reports (Corvus DLP Reports), as well as phishing testing. 

Each service has been selected because of its impact in either reducing cyber risk or improving response capabilities in the event of an incident. All Corvus accounts with over $100 million in annual revenue are automatically eligible, and all services are free of charge for qualifying accounts. Information about the program will be delivered to you directly when a quote you submit qualifies. 

Ready to learn more? I explain each of these services in the video below. You can also view a PDF menu of services.

 

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The rise of remote work and growing concerns over ransomware acted as partners-in-crime to get organizations to hone in on risk mitigation efforts over the past couple years. Through compiling our Risk Insights Index, we found that with certain initiatives —  safer or reduced usage of RDP, growing use of email security tools, and other measures taken to limit the impact of threat actors — businesses are more prepared than a year before and ready to play defense. Those efforts are borne out in our finding that the rate of companies who pay a ransom when attacked with ransomware fell by half within a year. 

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The whisperings of “firming rates” start first, quietly in business meetings, then published in industry reports. Soon to follow, rumblings of a “hard market” are brought to the conversation. It’s cyclical in nature, and we see it across all insurance lines at one point or another. For years, Cyber Insurance stretched far and wide with “soft” market conditions, remaining highly profitable. Now that period of growth, with exceedingly available coverage and inviting terms, has stalled in the face of a hard market.