Discount Internet Protection Offered
NU Online News Service, March 5, 1:02 p.m. EST ? An Internet security provider announced it has entered into a joint program with a global insurance broker to facilitate cyber-insurance coverage at discounted rates.
Atlanta-based Internet Security Systems, Inc. said it had developed a program with global insurance broker Marsh, Inc. in New York City, which helps companies expand their risk management strategies to include online exposures.
The program, ISS said, is designed to simplify and expedite the qualification process for cyber-insurance. Clients who contract with ISS for its "Secure StepsO" system of managed security services can pre-qualify for the coverage.
The program, the service provider said, helps the insured protect "intangible assets and mitigate potential liability that could result from a security breach in a company's network."
The cyber-risk coverage is necessary because terms are becoming increasingly restrictive on conventional commercial policies, said Hank Whiting, a managing director of Marsh, and risk related to information technology is not covered.
Clients signing up for the program also receive the added benefits of an expedited qualification process; online application through a dedicated Web site; premium discount of up to 25 percent for those who qualify; and around the clock security.
The program will be underwritten by AIG eBusiness Risk Solutions or Zurich North America, IIS said.
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