— CORPORATE

Cyber & Technology

Working to protect your business from cyber risk

From ransomware to phishing, targeted hacks, malware, or IP theft, the cyber threats to every business continue to grow in number and complexity. Many breaches occur by exploiting vulnerabilities, through human error or the actions of an insider and that in some cases, can go undetected for months.

Whatever the cause, the failure to deal effectively with the cyber threat could lead to significant financial damage as well as long term reputational harm – regardless of company size.

Lockton’s independence gives us the freedom to be a strong, flexible advocate always acting in the best interest of our clients, creating an entirely different dynamic — one that’s focused on your success.

Connected with 100+ Lockton Cyber & Technology Associates across the globe, and combined relationships with more than 200 insurance companies, our Cyber Practice team is dedicated to delivering unparalleled service and innovative programs to meet your organizational needs.

Supported by specialists from across the cyber industry, such as cyber claims experts, ex-CISOs and legally qualified technicians, our team offers a wide range of expertise in risk identification, protection and management, as well as proven delivery of results.

Our global reach ensures that our clients have access to the knowledge that comes from experiences across multiple jurisdictions and multiple industries.

Our approach to assessing cyber and technology risk and protection is different from the rest of the industry. We can provide you with specialist cyber insurance cover ranging from our own proprietary insurance wordings, to a variety of market-leading cyber products, all providing your in-house IT team with the support and advice it needs to identify risks, mitigate the damage, terminate the threats and get your business back on track as soon as possible.

Through a simplified approach to cyber risk management, we’re able to:

1. Inform organizations about their cyber risk:

2. Help them improve their cyber risk controls, and;

3. Insure the risk through customized insurance programmes to protect their business at every turn.

The process plays out to consider cyber risk management across your entire enterprise. The coordinated three-step approach ensures that you thoroughly understand your exposures and can be equipped with the best cyber risk protection plan for your organisation:

We leverage next-generation analytics tools to assist organisations in quantifying cyber risk in response to different scenarios

Provide reviews of existing insurance programmes, coverage gap analyses and technical partnered solutions to offer an extra layer of support
Design and tailor insurance program and risk transfer strategies to fit your unique needs

And our support won’t stop once execution has taken place. Your trusted advisor will stick by your side to provide claims support, coverage amendments and ongoing market updates.

A complete solution to inform, improve, and insure cyber and privacy risk.

The heightened ‘security first’ approach the cyber insurance market has taken is an instinctive response to the dramatic shift in the cyber landscape, from the increased frequency of large data beaches, to prolific ransomware losses.

Zainab Khatib, Cyber & Technology Practice Leader