MGA Volante Global launches cyber ransomware solution

Managing general agent (MGA) platform Volante Global has launched cyber ransomware, Cyber Lockout, that combines ransomware insurance cover with the latest in cyber security technology.

The product is designed to greatly reduce an organisation’s exposure to malware attacks, including ransomware, the MGA said. It has a multi-layered cyber security solution at its core, called Trident Lockdown, provided by GBMS Tech, which the MGA explained is built to prevent malware, including those introduced through zero-day vulnerabilities, from executing in the customer’s computer systems. In addition, it offers a ransomware-only insurance policy providing cover for the costs of recovering from a ransomware attack.

Graeme King, managing director - Cyber at Volante Financial & Professional Lines, said: “Ransomware is one of the most prevalent forms of cyber-attack and we have seen that increases in ransomware attacks have led to restrictions in insurance cover and significant rate hikes, leaving some businesses struggling to find adequate cover. By combining malware and ransomware prevention technology with ransomware insurance cover, Cyber Lockout provides a highly effective solution that spans the full attack cycle, from blocking the attack to responding in the unlikely event of a system breach.”

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