Specialty property and casualty insurer and part of the Liberty Mutual group Ironshore has announced the formation of a computer emergency response team to better manage cyber claims across all of its business lines.
In a clear indication that cyber risks are inherent in a multitude of insurance and reinsurance lines, whether specific cyber coverage or not, Ironshore has set up CERT-Ironshore, a dedicated computer response team made up of cyber claims coordinators representing each specialty lines division at the insurer.
Howard Panensky has been named as Director of CERT-Ironshore and will report to Mike Mitrovic, Ironshore Global Claims Officer.
CERT-Ironshore will offer Ironshore insureds a “single point of contact for cyber risk claim coordination and collaboration.”
Offering technical advice and support in response to cyber security incidents, the team will help Ironshore clients to better deal with cyber attacks and breaches.
The team will also help policyholders to manage their cyber security risks, through partnerships with selected vendors at pre-negotiated Ironshore rates.
“CERT-Ironshore reflects our commitment to promoting cyber security situational awareness throughout its entire specialty product lines platform,” said Kurtis Suhs, Cyber Senior Vice President.
Mitrovic added;“In the event of a cyber-related claim, policyholders will benefit from a coordinated claims strategy by accessing coordinators and resources with cyber claims handling expertise. Howard’s first-hand knowledge and understanding of the complexities of cyber claims will be invaluable in leading CERT-Ironshore.”
Cyber risk is often thought of as something only inherent in technology lines and specific cyber coverages, but Ironshore’s move shows that insurers are increasingly aware that cyber is embedded in many of their business lines and that helping clients recover can lessen claims they have to deal with.
