Pro Global has launched a cyber audit practice to support the insurance industry’s response to cyber risk.
The practice has been developed in partnership with cyber and information security services expert Cyber Security Associates (CSA).
Pro Global’s cyber audit practice is designed to help insurers understand their underwriting exposure when pricing cyber risks. This is in response to the increasing sophistication of cyber criminals, frequency of major attacks and regulations on data protection.
CSA will provide 24/7 automated technical monitoring and extended office working hours for access to cyber analysts.
Further services from Pro Global’s cyber audit practice will include vulnerability assessment, user awareness training and defining and implementing processes in accordance with legal/regulatory requirements.
Pro Global’s global head of infosec, Richard Robertson, said: “Cyber risks are frequent, severe and systemic—a trio of significant and evolving challenges for the insurance industry to respond to.”
“Through the launch of our cyber risk practice, we are directly addressing demand for more comprehensive audit services, and firmly believe that through implementation of a ‘no stone unturned’ approach combining current best practices with mitigating controls, insurers can reduce exposure to both major incidents and minor cyber crime.”
Robertson added: “I’m delighted to partner with David and the expert CSA team for this initiative. From supporting a greater understanding of underwriting evolving cyber risks, to strategies for protecting policyholders from a cyber breach, we provide deep insight and solutions that go above and beyond the general audit snapshot of a business’ cyber security that are currently used.”
CSA director David Woodfine also commented: “Through significant experience with the changing nature of cyber threat I’ve seen that those businesses that are proactive in tackling and reducing cyber risk stand the best chance of mitigating the chance of an effective breach, and of the damage should a breach occur.”
“The biggest vulnerability for a business is poor education, training and preparation. I am delighted to be working with the innovative team at Pro Global to offer what I believe is the most comprehensive cyber audit solution available.”