CUNA Mutual Group Enhances Cyber & Security Incident Insurance Package
CyberRisk Hub Added as a No-Cost Education, Risk Management Tool for CSI Policyholder CUs
WASHINGTON, D.C. – CUNA Mutual Group has enhanced its Cyber & Security Incident (CSI) insurance package by adding a new online resource that provides policyholders with front-end education and awareness of cyber liability and data breach risks, as well as access to a “Breach Coach” and other remediation tools should a breach occur.
CyberRisk Hub will go live April 2, but credit unions got a sneak peek at it this week during the CUNA Governmental Affairs Conference.
The site is available at no additional cost and offers policyholders resources to identify, measure and manage cyber liability and data breach exposures, said Brad Mundine, CUNA Mutual Group senior manager of risk management. “CyberRisk Hub offers the latest cyber-related news, articles, best practices, whitepapers, blogs, and various risk management and compliance tools,” Mundine said.
It also offers loss mitigation information in the event of a data breach and a Breach Coach and Incident Roadmap. The Breach Coach feature will provide users with information needed to notify CUNA Mutual Group of a potential data breach along with contact information at Kroll Fraud Solutions to begin assessing the breach. The Incident Roadmap provides a high-level overview of various services offered in Kroll’s Professional Service Agreement which is made available to all CSI policyholders.
Accessing CyberRisk Hub can be done easily from CUNA Mutual Group’s online Protection Resource Center, with no additional login required.
The CSI Package, introduced in October 2010, pairs a broad insurance policy with two levels of critical data breach services to protect credit unions and their members in the event of an internal data breach that compromises sensitive member data. CSI has been well received and now protects approximately 300 credit unions.
“The evolution of the cyber world and virtual servicing are creating an emerging set of new risk exposures that can damage a credit union’s reputation, shake members’ trust, and cost tens of thousands of dollars to repair.” Mundine said. CyberRisk Hub adds online tools and resources to help credit unions develop a proactive approach to managing and responding to cyber risk.
For more information on CyberRisk Hub and the CSI Package, credit unions should contact their CUNA Mutual Group sales executive or follow this link: http://www.cunamutual.com/portal/server.pt?open=512
CUNA Mutual Group insurance, retirement and investment products provide financial security and protection to credit unions and their members worldwide. With more than 75 years of true market commitment, CUNA Mutual Group’s vision is unwavering: To be a trusted business partner who delivers service excellence through customer-focused products and market-driven insight. More information on the company is available on the company’s website at www.cunamutual.com.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. CSI is underwritten by CUMIS Insurance Society, Inc., a member of the CUNA Mutual Group. Data breach services are offered by Kroll, a member of the Altegrity family of businesses.