Canopius bolsters cyber offering through partnership with Group-IB

Global specialty re/insurer, Canopius Group, has entered into a partnership with Group-IB, a creator of cybersecurity technologies, which is set to strengthen Canopius’ cyber insurance offering with further advanced threat intelligence capabilities.

With this being Group-IB’s first full-service partnership with a Lloyd’s of London syndicate, this collaboration between the two firms is set to provide Canopius policyholders with an additional level of protection and threat intelligence.

It has been confirmed that the new offering includes enhanced risk assessments, real-time threat notifications and informed strategies for threat mitigation.

In addition, Canopius’ underwriters will now have enhanced capabilities to assess the likelihood of cyber risks and conduct comprehensive risk assessments, ultimately providing assessable insights into the financial benefits of security measures.

It should be noted, that this advancement will allow for the provision of more precise and cost-effective coverage to Canopius’ clients.

Moreover, Canopius will extend this expertise and these new capabilities to their policyholders through detailed threat reports and their catalogue of proactive cyber services.

In addition, the specialty re/insurer’s threat intelligence function collects in-depth data from multiple sources, including attack methods and technical impact information from the internal Cyber Incident Management team, claims data and open-source feeds.

From what we understand, Group-IB will supplement this with data obtained via adversary intelligence, vulnerability and malware information, and dark web visibility.

It is very clear that this partnership between the two companies further solidifies Canopius’ commitment to delivering a robust cyber offering as the cyber market continues to mature and new risks continue to emerge.

Matt Northedge, Global Head of Cyber at Canopius, commented: “Every organisation has its own unique exposures, risks and threats. This partnership combines the expertise of Group-IB’s threat intelligence analysts with Canopius’ insurance and risk management knowledge to offer an exceptional technical approach to cyber risk management. In joining our capabilities, we have developed an intelligence-led model and product, offering an unparalleled perspective on the cyber threat landscape for our clients.”

Dmitry Volkov, CEO of Group-IB, said: “As cyber threats evolve in complexity and unpredictability, threat intelligence is crucial for building resilience against both current and future threats. Group-IB is committed to delivering multi-sourced and tailored insights from its threat intelligence teams, Digital Forensics and Incident Response (DFIR) labs, alongside our Digital Crime Resistance Centers (DCRCs) around the globe. We are confident that our partnership with Canopius will enable round-the-clock visibility, vigilance and cyber threat profiling necessary for effective cyber risk management.”

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