Corvus Insurance Announces Data-Driven Expansion of Broad-Form Social Engineering and Cyber Crime Coverages
"Social engineering is the leading way attackers infiltrate organizations today. To provide the best cyber insurance, we must constantly adapt coverage to meet the prevailing risk environment." says
Social Engineering and Cyber Crime coverage includes coverage for losses due to activity like phishing, spear phishing, and other forms of criminal deception, which often take place via email. "As methods and risks change, so must coverage," says
The Corvus Scan is a proprietary technology that assesses any organization's cyber risk posture in minutes. The results of the scan drive Dynamic Loss PreventionĀ®, Corvus's program for helping brokers and policyholders better understand and mitigate risk, as well as driving the underwriting of Corvus's
"Organizations of all types, from municipal governments to tech companies, are realizing that the social engineering problem is not going away, and the consequences of being hacked are increasing as digital technology becomes central to business operations, even in sectors that were slow to adopt it," says
The company notes that the update is an example of its approach to underwriting using data science techniques like machine learning to rapidly iterate its underwriting models. "Our machine learning tools are being deployed to deliver increasingly insightful underwriting decisions for our brokers and their clients. It's important to note that accounts that score poorly in these defenses can be aided by our insights, as well. Together we can work to better manage and reduce the overall cost of risk." said Corvus CEO
About Corvus
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