Member Article

CFC Underwriting Tackles Phishing Threat with Cyber Risk Aware

Cyber Risk Aware, a provider of cyber security awareness education and phishing simulation solutions, has partnered with cyber insurance specialist CFC Underwriting to provide customers purchasing insurance policies with free phishing simulation tools as an additional benefit to their policies. The new tools will educate users by sending fake phishing emails and providing data on open rates, click throughs and information submission for analysis. The results can then be used to develop customised cyber awareness and education, training users in how to spot a phishing attack.

“The number of reported phishing cases has been increasing and we’re seeing many people being tricked into clicking on malicious links and transferring funds,” says Anthony Hess, Head of Incident Response at CFC Underwriting. “This prompted us to look at a risk management solution that would address the issue and Cyber Risk Aware’s phishing simulation platform emerged as a great tool for this.”

Prior to purchase, CFC Underwriting trialled the phishing simulations and, using the feedback provided, Cyber Risk Aware customised the solution to fit within the insurance provider’s needs. “We were particularly interested in building multiple email templates into one phishing simulation campaign as we knew if people recognised the emails and became aware of the exercise, it wouldn’t provide an accurate assessment,” adds Anthony. “Many SMEs may not have the resources to staff an IT security team and we have seen lots of claims stemming from phishing attacks. By providing the Cyber Risk Aware tool to our customers, we’re looking to help them reduce the impact to their businesses.”

Stephen Burke, Co-Founder, Cyber Risk Aware comments, “Historically, cyber insurance products have focused on post-breach activities, whereas this is something designed to help clients avoid the incident happening in the first place. CFC Underwriting should be applauded for the thoughtfulness and innovation it is bringing to its product, and we’re delighted to have worked with them to deliver it. Customised functionality and flexibility is a key tenet of our approach to market, allowing us to add that extra value to our customers.”

This was posted in Bdaily's Members' News section by Cyber Risk Aware .