Chubb Offers Cyber Insurance

Warren, N.J. - The Chubb Group of Insurance Cos. is rewarding policy holders who are proving a "healthier" security posture by putting together a premium discount program for its cyber insurance product: CyberSecurity by Chubb.

The program launch is in response to the increasing amount of cyber-related crime, and Warren, N.J.-based Chubb is encouraging organizations to ramp up network security by offering a premium discount for its CyberSecurity by Chubb insurance product.

The program is akin to "safe driver" programs or "healthy lifestyle" discounts offered by insurance companies.

This discount program is believed to be the first of its kind and right now, says a spokesperson from Boston-based Core Security, which facilitates and enables organizations to qualify for the premium credit, brings to light the growing importance of being able to prove to management that you can test and validate the health of a company's IT environment.

The premium credit will be available to organizations that implement and regularly test their systems via the new best-practice penetration testing methods as defined by the National Institute of Standards and Technology (NIST).

Source: Core Security