Chubb builds Cyber Index with 20 years of cyber risk data

Do you know how to estimate the risks your business faces? Want to know where your specific industry must focus its efforts when creating a cybersecurity strategy?

Chubb, the NYSE listed insurance company, has launched its Chubb Cyber Index, a new interactive platform that showcases nearly two decades worth of Chubb’s proprietary commercial cyber claims data. The Index is designed to highlight a range of cyber threats based on an organization’s industry and size.

On the website, you’ll find information about the top actions causing cyber losses, the top actors causing cyber losses, top affected assets by industry and revenues, information about current cyber threats such as Ramsomware, DDoS, IoT, Crime-as-a-Service (CaaS), Social, and Human Error.

The dashboard on the website can help filter claims by industry, company revenue, and data, providing businesses with a view of the issues that are most relevant to them.

“We’re thrilled to offer businesses throughout North America this interactive capability to provide insight into real threats facing them on a daily basis,” said Bill Stewart, Division President of Chubb’s Global Cyber Risk practice.

#Infosec: @Chubb Produces Cyber Index Based on #Insurance Claims over Past 9 years https://t.co/p7qfAXx1Ly #cybercrime pic.twitter.com/30OpUNnwPM

— Neira Jones (@neirajones) April 14, 2018

“The first step to protecting a business from a cyber attack is staying aware of what threats are most prominent to a company’s size and industry. Our Cyber Index will help users to better understand their exposures and manage risk before a cyber incident occurs,” added Stewart.

The  Index provides users with a simple and immediate means of identifying the leading cyber risks their business may face based on real-world examples of cyber attacks and data breaches.

“Chubb has nearly two decades of cyber claims data, which enables us to help clients gain insight into the types of events affecting their industries. Along with delivering key intelligence to businesses of all sizes, the Index will be updated biweekly, and ultimately will deliver real-time data,” said Michael Tanenbaum, Executive Vice President, Chubb.

“That insight has helped us to monitor the evolution of the marketplace and understand various threats and how they impact different businesses, based on their profile,” explained Tanenbaum.

As cyber risks evolve, Chubb will continue to focus and respond to the environment by its strong commitment to the industry and by providing best-in-class solutions to clients. In the meantime, organizations of all sizes need to proactively assess current procedures in place to mitigate the risk from potential cyberattacks and ensure that their cyber insurance policy is structured to addresses any gaps.