New Products

High Net Worth Insurer Boosts Cybersecurity Coverage

Eliane Chavagnon Editor - Family Wealth Report June 17, 2015

High Net Worth Insurer Boosts Cybersecurity Coverage

The topic of cybersecurity is huge today, particularly in financial services, and insurers are responding by rolling out protection solutions for wealthy individuals.

Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer of high net worth individuals and families, has partnered with Concentric Advisors, a security firm, to offer CyberSafe Solutions.

CyberSafe Solutions is designed to help individuals better prevent, detect and respond to cyber threats. The need for this has ballooned in importance as cybercrime techniques advance and multiply, and criminals home in on higher-stake targets including retail banks, wealth advisors, healthcare companies, as well as personal data and wealth.

As part of the new offering, PURE will provide: a “cyber knowledge center”; a ten-point “fundamentals check”; and valuables and cybercrime insurance coverage.

For members seeking an even higher level of cybersecurity protection, Concentric's cybersecurity consultants can offer: a home cyber security audit; a social engineering assessment (which identifies and analyzes references to the member across open information sources such as social networks, media, and blogs; and a robust firewall service.

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