Zurich teams up with global security specialist to expand cyber protection offering as risks grow
Zurich, February 26, 2020
Collaboration with CYE expands protection against one of top global risks for business
Zurich Insurance Group (Zurich) has created a new offering together with cyber security company CYE to shield businesses against the growing risks of cyber-crime.
Zurich Cyber Security Services addresses the full spectrum of cyber-risks by helping businesses define and deploy effective cyber risk management programs. It combines Zurich’s specialist cyber insurance and risk engineering capabilities with CYE’s artificial intelligence-based technology, services and cyber expertise.
The cyber space is a dangerous source of crime and disruption and one of the top risks for businesses, says the Global Risks Report published by the World Economic Forum in partnership with Zurich. As cyber-attacks increase in severity and frequency, companies can make themselves more resilient by strengthening risk strategies for cybersecurity and insurance.
“Cyber is a very challenging risk for businesses as it is constantly evolving and highly complex,” said Sierra Signorelli, Chief Underwriting Officer, Commercial Insurance at Zurich. “Our collaboration with CYE, a global leader in cyber security services, will give customers a state-of-the-art cyber-solution that combines the benefits of insurance with a boost to their cyber-defenses.”
Reuven Aronashvili: CEO of CYE, added: “We are delighted to work with Zurich Insurance Group. With effective cyber-risk management powered by tailored adaptive continuous risk assessment and cyber-insurance, business executives can drive faster and smarter digital business growth.”
“As a truly customer-led organization, innovating for our customers to address their needs is at the center of everything we do,” said Paul Horgan, head of U.S. Commercial Insurance for Zurich North America. “We don’t just provide insurance products. We are increasingly becoming strategic risk management collaborators. Adding CYE to our services is just our latest example of how we are doing that.”
The benefits of Zurich Cyber Security Services include closing unknown security blind spots, reducing the risk and impact of security incidents, ensuring proactive protection of critical business assets, and appropriate budget and resources allocation. Zurich Cyber Security Services is available to companies globally.
Companies that purchase a standalone cyber policy from Zurich will also benefit from the collaboration with CYE. The policy now includes a comprehensive, technology-driven report assessing their risk with regards to cyber threats.
In North America, more information about Zurich’s cyber security solutions can be found here.
Zurich North America is one of the largest providers of insurance solutions and services to businesses and individuals. Our customers represent industries ranging from agriculture to construction and include more than 90 percent of the Fortune 500. We’ve backed the building of some of the most recognizable structures in North America — from the Hoover Dam to the Confederation Bridge. Our North American, LEED Platinum® headquarters is located in the Chicago area. We employ approximately 9,000 people in North America and have offices throughout the U.S. and Canada. Further information is available at www.zurichna.com.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
In North America:
847-605-7580 (desk) 708-261-1063 (cell)
Zurich Insurance Group Ltd Austrasse 46, 8045 Zurich, Switzerland
SIX Swiss Exchange/SMI: ZURN, Valor: 001107539
Malcolm Shearmur, Thomas Baer
Phone +41 (0)44 625 21 00