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FireEye unveils CREATE programme for insurance industry

New programme to help brokers and underwriters minimise client exposure to cyber risks

FireEye unveils CREATE programme for insurance industry
Pataky says with the introduction of CREATE, FireEye has unparalleled expertise in mitigating cyber-attacks.

FireEye Inc, a provider of security solutions that stop today's advanced cyber-attacks, has announced the Cyber Risk Evaluation and Threat Engagement (CREATE) programme, addressing insurance brokers’ and underwriters’ critical need to gain visibility into enterprises’ exposure to cyber threats.

The company said Lockton Inc, the largest privately held, independent insurance broker in the world, will serve as the CREATE programme’s inaugural partner.

The CREATE programme uses the FireEye Threat Prevention Platform technologies and services to help insurance brokers and underwriters assess organisations' cyber defense postures against today’s threats. In addition, CREATE will allow for insurers to quickly utilise the FireEye Threat Prevention Platform for breach assessments, managed services and incident response services within their client engagements.

"Cyber insurance is a growing, essential corporate reality as advanced, targeted attacks and nation-state sponsored cyber-attacks continue to increase," said Steve Pataky, VP of worldwide channels and alliances at FireEye. "With the introduction of CREATE, FireEye is proud to have our unparalleled expertise in mitigating cyber-attacks and identifying gaps in traditional security architectures leveraged as a solution for the insurance industry. As our launch partner, it is exciting to see that Lockton has recognised the importance of utilising technologies and services purpose-built for today’s threat landscape."

As cyber risk rises in prominence in boardrooms around the world, the global cyber insurance market continues to grow at a rapid rate, said FireEye.

In addition, the company pointed out that new cyber insurance solutions have been developed to address gaps in property and terrorism coverage in the event of a cyber-attack. These policies offer affirmative coverage for both enterprise IT and industrial control systems environments, covering physical damage as well as business interruption resulting from physical or non-physical damage.

Through CREATE, FireEye will offer brokers and underwriters technologies and services purpose-built for today’s advanced threats that find gaps in enterprises’ security architectures and can quickly remediate them, policy placement assistance that enables underwriters to allow for differentiated risk and premium offerings for clients, post-breach services to evaluate and minimise impact should an insured client be breached and ongoing advanced security support for clients via FireEye Managed Defense, the FireEye Network Security platform, Threat Analytics Platform, annual assessments, and security operations plans.

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