Barbican Boosts Cyber Cover With Incident Response Exercises
LONDON, March 8, 2018
Barbican Insurance Group today announced that it has further strengthened its cyber insurance cover by providing incident response exercises and phishing simulation as part of the overall package. The guidance will be delivered by leading enterprise risk and cybersecurity consulting firm TSC Advantage.
Through TSC Advantage, Barbican will provide its cyber insureds with access to two distinct types of cyber security training. The first delivers a comprehensive cyber incident response exercise working directly with the insured to test the resilience of current strategies and delivering recommendations for improvements. The second focuses on social engineering attacks, with the insured being exposed to a series of targeted phishing simulation emails to evaluate current phishing defences and providing action points on how to strengthen them.
Graeme King, business group leader for cyber at Barbican, said: “At Barbican, we are committed to finding new ways to boost the cyber resilience of our insureds and it is in all of our interests to help reduce the potential for cyber-related losses. By introducing these new training components into our policies, we want to place our clients in the strongest possible position to withstand attacks, while also empowering them to respond quickly and effectively when an incident occurs.”
Will Durkee, director of security solutions at TSC Advantage, added: “From our years in offensive cyber operations, we bring the attacker mentality into the defensive support we provide. We know the vulnerabilities hackers search for and help organisations close those gaps. We look forward to working with Barbican to ensure that their cyber insureds have the best cyber posture possible.”
About Barbican Insurance Group
Formed in 2007, Barbican Insurance Group underwrites business predominantly through its syndicates at Lloyd’s. Barbican’s lines of business include marine, aviation and transport re/insurance, property re/insurance, energy and specialty lines including casualty reinsurance, cyber liability, healthcare liability, financial and professional lines and professional indemnity.
Barbican also has a non-Lloyd’s financial solutions business based in Guernsey which offers insurance and reinsurance programmes to the global market. It also has a number of subsidiary companies including: Barbican Specialty US, Barbican Protect Limited and Castel Underwriting Agencies Limited.