Allianz teams up with ales to offer Allianz Cyber Data Protect insurance against cyberattacks

Allianz teams up with Thales to offer Allianz Cyber Data Protect insurance against cyberattacks

Allianz teams up with Thales to offer Allianz Cyber Data Protect insurance against cyberattacks

Wed, 15/01/2014

Businesses need a comprehensive approach to risk management to address the growing problem of cybercrime and industrial espionage on the Internet.

The new Allianz Cyber Data Protect solution offers complete protection against digital risks.

With this innovative insurance cover, Allianz Global Corporate & Speciality and Thales expect to meet a growing need and support the expansion of the cyberinsurance market.

Neuilly-sur-Seine, Wednesday 15 January 2014 - Allianz Global Corporate & Specialty SE (AGCS) and Thales have joined forces to offer comprehensive protection against cybercrime. The new Allianz Cyber Data Protect insurance policy from AGCS is tailored to the needs of each customer. It covers the costs incurred by responding to a cyberattack on an insured company and rebuilding its information system as well as losses arising from interruption of business operations. Thales is contributing its expertise in both initial analysis of IT security risks and emergency response in the event of an attack.

In the digital age, where business processes are networked and companies rely on ever more complex technologies, the risks and threats to business organisations continue to grow. An estimated 556 million people across the world fall victim to cybercrime each year, equivalent to 1.4 million people per day or 18 per second[1].

The new Allianz Cyber Data Protect insurance solution enables businesses to protect themselves comprehensively against cyber risks.

This insurance policy covers the expenses arising from measures taken to respond to a malicious online attack and restore damaged or destroyed data. The policy also protects against loss of income resulting from disruptions following an attack, and covers civil liability claims by customers of an insured company who sustain losses as a result of attacks by hackers or denial of service attacks. Data protection violations and illegally accessed digital communications are covered, and the costs of crisis communications to safeguard the companys reputation are also included in the policy.

In addition to this standard cover, the Premium and Premium Plus enhanced options offer extended cover up to 50 million. Thaless involvement as a cybersecurity expert includes risk analysis and prevention to ensure the best possible protection for each insured company and mitigate the potential impact of an attack.

These two options also include the assistance of Thaless dedicated Rapid Response Team.

Allianz Cyber Data Protect combines various elements of civil liability, damage and pure financial loss insurance, as well as a range of complementary services from carefully selected providers, says V ronique Bruyland, Head of Financial Lines Underwriting, Mediterranean Region, AGCS. This solution also offers comprehensive protection against growing Internet threats and is designed to adapt to the needs of each specific company.

Cybersecurity is an integral part of risk management for French companies today, adds Vincent Marfaing, Thales Vice President, IT Security and Cybersecurity. Thales is delighted to be contributing its expertise to the Allianz Cyber Data Protect solution. This innovative policy stands apart from other products in that it offers a combination of preventive and remedial measures to optimise both the technical and financial aspects of the protection provided.

About Allianz Global Corporate & Specialty SE

Allianz Global Corporate & Specialty SE (AGCS) is a leading global provider of industrial and specialty risk insurance. AGCS also offers supranational cover through international insurance programmes. AGCS operates in over 160 countries through its own units and the Allianz network and cooperation partners and employs more than 3,500 people. AGCS provides insurance solutions to more than half of the Fortune Global 500 companies and reported gross written premiums of 5.3 billion in 2012.

AGCS has an AA rating from Standard & Poors and an A rating from A.M. Best (November 2013).

For more information: www.agcs.allianz.com / Or follow us on Twitter: @AGCS_Insurance

Press contacts:

V ronique Turinaz Postel

Head of Market Management & Communication, Allianz Global Corporate & Specialty SE

33 (0)1 58 85 43 42

veronique.turinaz_postel@allianz.com

Bettina Sattler

Global Communication, Allianz Global Corporate & Specialty SE

49 89 3800 14303

Bettina.sattler@allianz.com

About Thales

Thales is a global technology leader in the Aerospace, Transportation, Defence and Security markets. In 2012, the company generated revenues of 14.2 billion with 65,000 employees in 56 countries. With its 25,000 engineers and researchers, Thales has a unique capability to design, develop and deploy equipment, systems and services that meet the most complex security requirements. Thales has an exceptional international footprint, with operations around the world working with customers and local partners.

As a leading player in the security market, Thales is positioned as an added-value systems integrator, equipment manufacturer and service provider. Thaless security teams work with government agencies, local authorities and civil operators to develop and deploy integrated, resilient solutions to protect citizens, sensitive data and critical infrastructure.

Drawing mainly on its strong cryptographic skills, Thales is one of the world leaders in cybersecurity products and solutions for critical state and military infrastructures, satellite networks and industrial and financial enterprises. With a presence throughout the entire Security chain, Thales offers a comprehensive range of services and solutions ranging from security advice, i

LINK:	https://www.thalesgroup.com/en/cybersecurity/press-release/allianz-tea...
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