Cyber Insurance Underwriters Launch Risk Mitigation Company
Seven cyber insurers have launched CyberAcuView, a risk mitigation company that compiles and analyzes data to help organizations get the most value out of their cyber insurance.
CyberAcuView intends to use its collective expertise to help the cyber insurance industry enhance its services, the company said. To do so, CyberAcuView is focused on the following initiatives:
- Providing industry best practices
- Engaging with regulators and law enforcement and other security agencies
- Developing systemic risk solutions
- Advancing cyber policy language
- Analyzing cyber trends to gain insights into cyberattacks
CyberAcuView’s founding members include:
- The Hartford
- Liberty Mutual Insurance
CyberAcuView is led by CEO Mark Camillo, who most recently served as head of cyber for the EMEA region at AIG. The company’s leadership team also includes Monica Lindeen, former insurance commissioner for the State of Montana and president of the National Association of Insurance Commissioners, and James Schweitzer, an FBI veteran and former COO of the National Insurance Crime Bureau.
What Services Does CyberAcuView Offer?
CyberAcuView provides the following services:
- Industry Data Collection and Analysis: Develops cyber insurance intelligence, so insurers can educate organizations about cyber risks
- Cyber Industry Data Information Standards: Creates voluntary standards for cyber data information to promote consistency across the cyber insurance market
- Regulator and Government Agency Collaboration: Fosters relationships with regulators and government agencies to uncover ways to help organizations address cyber risks
- Law Enforcement and Security Agency Coordination: Works with law enforcement and security agencies to explore ways to mitigate cybercrime
- Systemic Risk Evaluation: Focuses on improving the industry’s understanding of systemic cyber risks
CyberAcuView is industry-supported, the company indicated. It works for the benefit of cyber insurance policyholders, the insurers that serve them and the global economy.