Cyber Risk Solutions

Dynamic security—the key to your organization’s cyber resiliency

It’s our new reality…

Cyber threats are advancing faster than the world’s best defenses. Your assets are under siege and technology alone isn’t enough.

With an ever-evolving threat landscape, you need a partner who does much more than just sell cyber insurance. Managing cyber risks is a priority that requires a dynamic, holistic and strategic approach with active participation from every level of the organization. In order to succeed, you must find a way to simplify the ever-evolving threat landscape by focusing on likely threats and bridging the growing gap between the technical task of cyber defense and the leadership function of cyber risk management.

PSA’s dedicated cyber experts keep their fingers on the pulse of the fast-paced cybersecurity ecosystem and its latest developments. Our role as a leading voice and active member of the cyber community allows us to quickly become apprised of new threats as we continually monitor your threat profile. As one of the founding members of the Cybersecurity Association of Maryland, Inc. (CAMI), PSA helps raise awareness of the need for cybersecurity, provides resources to cyber businesses in Maryland and creates jobs within the cyber sector.

Our proprietary process, the Enterprise Risk Resiliency Loop, achieves dynamic security through risk management best practices, technology and insurance solutions, which continuously adjust as cyber risks evolve. PSA’s cyber experts help you make your operation more resilient—you will be faster to respond and better able to recover from cyber incidents. Here’s how we do it…

Review

Leading Cyber Insurance Expertise. Better Risk Management Solutions.

Kickstart your cyber risk and resiliency planning with PSA’s proprietary cyber risk review process. We help you build a basic cyber risk profile, identify high level cyber risk exposures and offer realistic suggestions about how you can improve your cyber risk management strategy.

We review your current policy or design tailored coverage if you don’t have one in place. We then explain what your cyber insurance covers for your business and discuss options in the context of your cyber risk profile.

Measure

Exclusive Industry-Validated Tool Places a Value on Your Unique Cyber Risk

Unlike traditional risk, cyber risk is difficult to monetize. As a result, most businesses struggle to prioritize cybersecurity investments and identify the scope of cyber insurance they should purchase. PSA has helped develop an exclusive industry validated tool, CyVaR, and is one of few insurance brokers in the nation using it to help place a dollar value on your unique cyber risk.

Protect

Access to PSA’s Exclusive, Highly-Customized Insurance Product

To help our clients combat the quickly-evolving threat landscape, we have secured access to an exclusive, highly-specialized, custom-built insurance product, which includes:

  • Manuscript contract language
  • Unique endorsements
  • No retro dates
  • Direct line to executive leadership

The first step to Cyber Insurance under 3 minutes

Wider Selection and Unique Cyber Coverage

With our wide network of top insurance carriers, we are also able to offer you access to additional unique, specialized and exclusive coverage and help select the most cost-effective solution for your organization. Critical coverage we offer includes:

First Party Expenses:

  • Regulatory Investigations
  • Fines and Penalties
  • Data Breach Notification and Response
  • Crisis Management and Public Relations
  • Network, Software and Data Restoration
  • Business Interruption and Other Costs

Cyber Crime and Electronic Theft

Wire Transfer Fraud and Social Engineering

Third Party Liability:

  • Failure to Prevent a Cyber Incident
  • Misuse, Disclosure, Loss or Theft of Confidential Data
  • Content and Media Liability
  • Defense Against Regulatory Proceedings

You need a robust policy, but equally important is an experienced broker that is on your side to maximize the value and effectiveness of your cyber insurance coverage. PSA’s cyber risk solutions team understands cyber incident response and works with you before, during and after an incident.

Respond

A Team of Partners During a Cyber Incident

PSA takes the role of partner seriously. We believe cyber risk management is a team sport and a risk no organization can address alone. As part of our dynamic security approach, we’ll help you navigate through the difficult times when you do experience a cyber-attack. We provide you access to and facilitate engagement with the members of the Enterprise Risk Resiliency Panel (ERRP), which includes vetted breach attorneys, reputation management professionals, cyber risk management consultants and managed security services partners. It is critical you establish a solid rapport with your partners prior to a breach and develop an intimate understanding of your needs for when a cyber incident happens. That way, your team is ready to respond immediately when the time comes.

Click here for more information about the ERRP and participating member companies.

Learn

As a leader at your organization, it is critically important that you be integrally involved in the people, policy, technology and insurance considerations that affect your cyber resiliency. Tap PSA as a source of knowledge and an ally as you work to protect your enterprise.

 Cyber risk management resources

Ready to stop worrying about cyber liability?

Contact us