11 October 2017Insurance

Brokerslink launches cyber risk management and insurance facility

Global broking company Brokerslink said on Oct. 11 that it launched a new cyber risk management and insurance facility together with service provider Safeonline.

The facility called PoCydon offers a three-prong attack on cyber perils. Firstly, MS Amlin’s market leading cyber insurance wording, which is backed up with active risk monitoring and threat detection services and finally incident response investigation and analysis.

The facility is exclusive to Brokerslink and is delivered via a modular wording allowing complete flexibility depending on client and budget. This facility provides cyber security services by integrating front end detection and prevention with incident response and breach cover. Insurance is provided on a worldwide basis for all Lloyd’s licensed territories.

“PoCydon is a real breakthrough for the cyber market. As cyber risks have become increasingly diverse and complex, a new and more comprehensive approach to managing cyber as an enterprise risk is needed,” said Corey Gooch, director of business development at Brokerslink.

“We believe we have created this enterprise risk solution in PoCydon, one that brings risk detection and prevention together with insurance as a financial backstop. The PoCydon facility addresses this challenge by providing first rate incident response and in-depth investigation and analysis to reduce the likelihood and severity of a cyber-attack today and in the future. I have no hesitation in recommending this as a true leading-edge facility to Brokerslink’s clients across the globe.”

Henry Warner, cyber, media and technology broker at Safeonline added: “This is an incredibly exciting and unique proposition offered exclusively through Brokerslink. It has been designed to be a market leading product and offer a holistic approach to cyber risk as opposed to the traditional coverage/response services model.

"Cyber risk represents a huge threat to a vast number of businesses, but with this threat comes fantastic opportunity for the insurance industry. Put simply, PoCydon offers a market leading product which not only benefits the client but also addresses legacy barriers to purchase, thus helping Brokerslink support its insurance buyers with greater penetration and protection than was previously attainable.”

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More on this story

5 April 2017   Broker network Brokerslink has expanded its global construction practice with the appointment of Brian Schofield and Edouard Marron as co-practice leaders, effective immediately.
8 February 2018   Brokerslink, a global network of independent brokers, has appointed Jacqueline Legrand as its new CEO.
2 July 2018   Brokerslink, a global network of independent brokers, has appointed Anne Collette as director of business operations to further strengthen its global broking operational capabilities and network.