Arctic Wolf announced
the release of enhanced tools and programs advancing Tetra Defense's MyCyber platform,
designed to help businesses more effectively build business resilience as well
as address the evolving demands of insurance carriers.
Organizations
have an increased understanding of the importance of creating business
resilience and reducing cyber risk, but as ransomware, business email
compromise, and supply chain attacks dominate the headlines, cyber insurance
carriers are setting higher standards for insurability. Among respondents to a
recent survey, only 61% said their organization has
some type of cyber coverage today.
As a leading incident response (IR) provider, Tetra Defense, an Arctic
Wolf company, is a trusted partner to many within the insurance community and
has seen firsthand the challenges organizations face in reducing cyber risk to
become more insurable as brokers and carriers set new standards and
requirements. To address this evolving market, Tetra Defense has developed
MyCyber, a web platform, to deliver a tailored benchmark framework for
vulnerability and insurability assessments.
The advancements to the MyCyber platform announced today are
designed to establish a baseline of key security controls necessary for proper
cyber hygiene for businesses seeking insurance. Unifying and contextualizing
cyber insurance requirements will empower organizations to more effectively
enforce security hygiene and dynamically manage their security posture, while
maintaining insurability over time. In turn, the MyCyber platform provides insurers
and brokers a holistic view of client risks and enables them to establish more
accurate risk-assessments.
"In this challenging threat landscape, defining
insurability has become a moving target," said David Anderson, US Head of Cyber
at McGill and Partners, a leading cyber insurance firm. "Being able to provide
businesses with security task guidance and imminent threat scanning necessary
to make effective changes to their security posture and ultimately help
businesses work towards becoming more insurable, less risky clients, is a
much-needed bridge between cyber insurance carriers and the businesses they
insure."
Presently, MyCyber is available to insurance carriers and
brokers, as they partner with customers looking to elevate their insurability
and reduce cyber risk. With today's announcement, Arctic Wolf introduces
advancements to MyCyber that build upon the company's ongoing commitment to
help organizations advance business resilience through an innovative approach
to security operations.
Additional business resilience tools and programs offered by
Arctic Wolf include:
- Arctic
Wolf Security Journey: An
innovative program that guides Arctic Wolf customers through the NIST Cybersecurity Framework by
combining data and insights from the Arctic Wolf Security Operations Cloud
with security operations expertise from Arctic Wolf's Concierge Delivery
model. The program enables customers to center their efforts on a growing number
of cybersecurity focus areas, such as cloud security or compliance,
executing on customized roadmaps to help systematically reduce cyber risk
exposure.
- Arctic
Wolf Security Operations Warranty: Available
at no additional cost, qualifying Arctic Wolf customers are eligible to receive
a $1 million service warranty benefit to support their recovery
activities, legal and regulatory expenses, and other associated business
costs in the event of certain successful cyber attacks.
- Discounted
Cyber Insurance Premiums: The
Arctic Wolf Security Operations Cloud helps enable effective security
outcomes, which often allows Arctic Wolf customers to receive discounted
rates at select cyber insurance carriers.
"Since our founding, Arctic Wolf has been focused on not just
addressing threats for customers but partnering with them on their security
journey to enhance their security posture and help them become more secure over
time," said Scott Holewinski, senior vice president and general manager,
Incident Response, Arctic Wolf. "With this announcement, Arctic Wolf extends
its position as a leading cybersecurity company that focuses on not only delivering
innovative new solutions, but also unique customer benefits that can build
resilience, increase insurability, and further our mission to end cyber risk."