Chubb (CB) Unveils New Solution To Minimize Cyber Threats

Chubb Limited (NYSE:CB) recently introduced its Cyber Enterprise Risk Management (ERM) solution in the Asia Pacific region. The first countries to enjoy the solution will be Australia, Hong Kong and Singapore.

Given the rapid globalization, businesses have to remain connected. In such a scenario, it becomes difficult for the organizations to become aware of cyber breaches until such an event takes place. Thus, cyber security raises concern for businesses worldwide.

Chubb’s Cyber ERM has been designed to provide end-to-end loss control and risk management solutions to its clients. The solution will not only enable clients to understand factors behind cyber breaches but also provide them with ways to prevent such incidents. Also, it will offer guidance to minimize losses and manage reputation.

This apart, the solution will offer a dedicated round the clock service with its incident response teams to assist clients in case of a covered cyber incident-related emergency. Further, clients will gain access to Chubb Global Cyber Practice, which has a network comprising cyber risk professionals from around the world as well as local underwriters. These professionals would help clients to comprehend and measure their risk exposures, thereby leading to effective coverage customization.

In addition, the Cyber ERM solution will present clients with a simplified policy structure and language, which will bring together the key components of first party cover and third-party cyber liability cover. This will include factors like business interruption loss, data restoration, cyber extortion, crisis response costs and liability arising from privacy and security incidents.

Chubb is a forerunner in the cyber insurance marketplace and hence, is qualified to offer truly global solutions to identify and deal with the current and future cyber threats faced by various organizations, irrespective of size, industry or location.

Cyber ERM aims to go beyond insurance and provide a loss control and risk management solution. Dedicated cyber teams in Asia will team up with clients to deliver tailor-made solutions to meet their specific needs.

The improved cyber solution will offer solutions to both the major and minor clients in Australia. Cyber threats have become an enterprise-wide concern and the name “Cyber Enterprise Risk Management” suggests exactly that. The company has witnessed a gradual increase in submission flow, cyber-related buying habits and claims activity in Australia in recent times. Thus, the company intends to enhance its capabilities and solutions to cater to clients’ needs in this growing segment.

Zacks Rank and Stocks to Consider

Currently, Chubb carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the property and casualty (P&C) industry are Allied World Assurance Company Holdings, AG (NYSE:AWH) , Argo Group International Holdings, Ltd. (NASDAQ:AGII) and National Interstate Corporation (NASDAQ:NATL) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).

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