Swiss Re Corporate Solutions has launched a new risk management solution to help small and medium-sized enterprises (SMEs) manage their cyber and digital risks.
CyberSolution 360° was developed in collaboration with French cyber security insurtech company Ozon, and combines insurance with cyber attack protection services.
The solution is targeted at SMEs with 10 to 250 employees and covers cyber incident management, including costs such as data recovery fees, legal advice fees or administrative penalties; first party losses including the loss of income; as well as third party claims, such as damages under an SME`s privacy liability.
According to Swiss Re Corporate Solutions the offering will be available in France from 6 February and rolled out to other European markets throughout 2019.
François Brisson, head of cyber technology EMEA, Asia Pacific and Latin America at Swiss Re Corporate Solutions commented: “By combining cyber insurance with protection services, we’re able to help European SMEs better manage their cyber risk,”
Adding: “CyberSolution 360° reduces both the likelihood and the impact of a cyber attack, and therefore gives SMEs better protection for growing their business safely,”
Regis Rocroy, CEO and founder of Ozon, said: “With CyberSolution 360°, we are making a paradigm shift, moving from the one-time assessment of cyber risks to the integrated and continuous management of cyber and digital risks for SMEs. This innovation is our first step into the Insurtech market.”