SeCAP, at the sole discretion of the client, may have the sponsored captive offer coverage for attacks initiated by individuals, foreign entities, nation-state actors and all other forms of online threats. The client may opt to include coverage for expenses like legal fees, credit monitoring, and data recovery and damage to brand.
What does traditional cyber security insurance typically cover?
Traditional Cyber security insurance can cover a range of expenses related to a cyber attack or data breach, including legal fees, credit monitoring, data recovery, and business interruption losses. However, many traditional insurance providers will not cover attacks from foreign entities, nation-state sponsored attacks. Further, many traditional providers will restrict honoring claims where the client has not produced proof of frame work compliance and remediative steps to address cyber security.
Can SeCAP offer coverage beyond Cyber security insurance?
SeCAP sponsored captive clients can opt to write policy language to extend coverage for all general enterprise insurance needs. SeCap provides actuarial consultancy services for all clients in any industry.
Is SeCAP Cyber security insurance frame work compliant?
As Part of SeCAP sponsored captive advisory, SeCAP provides a soft penetration test service that is mapped to NIST 2.0 framework standards. SeCAP works to identify any gaps in a client cyber posture before the client captive is formed.
How does SeCAP differ from other insurance providers?
SeCAP offers a managed self-insurance structure (commonly referred to as a “captive”). A captive by definition is an insurance company owned by the company being insured. SeCAP provides an eco system of experts in technical, legal , regulatory, accounting and actuary so companies may benefit from policy flexibility and potential financial benefits.
How Does SeCAP Cyber insurance benefit clients?
SeCAP sponsored captive insurance companies help clients identify where they are at risk with a free Attack Surface Management (ASM) discovery. An ASM discovery identifies where a client is at risk and what remediation steps need to be taken in order to strengthen the client security posture. Further, SeCAP has over 500 participants in our eco system that can help with professional services, monitoring, policy, etc. In essence, SeCAP is a Cyber security technical provider that advises clients on captive formation for the purpose of providing cyber insurance. We understand the technology and extend that knowledge to benefit our clients.
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