CFC improves cyber threat warmth map

Specialist insurance coverage supplier CFC has launched an up to date model of its cyber threat warmth map. The instrument now affords enhanced particulars on key exposures affecting a wide selection of {industry} sectors, from development and schooling to healthcare and logistics.

The cyber threat warmth map, accessible free of charge, is constructed on in depth information derived from hundreds of claims managed by CFC over the previous 25 years. It additionally incorporates developments noticed by the corporate’s in-house incident response group. The instrument makes use of a simple, color-coded graph to rank the severity of publicity to enterprise interruption, privateness breaches, and cybercrime for various industries.

“There’s a typical misperception that cybercriminals are solely keen on attacking companies that maintain delicate information, when actually our expertise exhibits that criminals are industry-agnostic, attacking many who maintain no delicate information in any respect,” famous Lindsey Nelson (pictured), cyber growth chief at CFC.

“Cybercriminals are more and more concentrating on conventional industries akin to transport and development to these offering skilled providers, whether or not by way of ransomware and extortion or enterprise electronic mail compromise scams. The motive is to go after companies which are susceptible, slightly than precious, as the best path to monetary acquire.”

To help brokers in initiating conversations with shoppers and highlighting the real dangers to their companies, CFC created a brand new model of its cyber threat warmth map, zeroing in on the particular areas related to every {industry} sector. The up to date warmth map additionally consists of real-life eventualities particular to particular person shopper sectors, drawn from precise claims.

Nelson went on to remark: “It’s important that cyber insurers give brokers the instruments they should present their shoppers with a sensible image of the dangers they face and the prices they might face within the occasion of an assault. We’re dedicated to supporting our brokers and can proceed to develop extra gross sales aids over the approaching months.”

To enhance the warmth map, CFC is ready to introduce a collection of industry-specific warmth maps, starting with skilled service companies and healthcare. Moreover, brokers can make the most of CFC’s present ransomware calculator, which estimates the potential value of ransomware assaults and affords actionable suggestions to assist forestall them.

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