The solution comes from TechAssure, a non-profit consortium of insurance and risk mitigation companies, which has teamed with RiskAnalytics and ICE Cybersecurity to provide the program.
“The missing piece in cyber insurance has always been proactive protection of cyber insureds,” said TechAssure Executive Director Garrett Droege in a press release. “Many companies offer cyber security assessments, network scans, and risk management recommendations along with their cyber insurance products. ShadowNet (the combined insurance and anti-ransomware solution) goes a step further by actively blocking hackers from ever accessing a company’s network.”
The program is designed to help insured companies ID threats, block them and share the information with other companies and insurance companies. The system is based on auto-shunning technologies to block malicious IP addresses, according to TechAssure.
The announcement reflects the challenges carriers have in understanding the risks and mitigation efforts involving their potential customers as they seek to underwrite cyber policies. Requiring clients to employ specific defenses could make that process easier.
