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BCS Financial partners with Corax to expand cyber product for small business Corax to help BCS cyber insurance customers mitigate risk Oakbrook Terrace, Ill./London- 2 October 2019 – National Cyber Security Awareness Month – BCS Financial (BCS) and Corax are to partner on an innovative cyber liability product that will help small businesses understand and mitigate their cyber risk, whilst insuring themselves against the financial impact of a cyber attack. Small businesses that purchase BCS cyber liability insurance coverage will gain access to a bespoke Corax risk report which will highlight any areas of weakness in their cyber hygiene and technology resilience, as well as an accurate view of potential cyber loss costs. “At BCS, we are committed to helping our policyholders understand their cyber risks and protect their business, ” says Chad Chaffin, Vice President, Property & Casualty Underwriting. “We are thrilled to incorporate Corax’s state-of-the-art risk reports as part of a suite of value-added tools policyholder can access alongside our insurance offering.” “Small businesses need more than an insurance payout if they become victim to a cyber attack, ” said Jonathan Pope, Corax CEO. “They also need help pre- and post-breach. Corax is working with BCS to give small businesses the information they need to understand the true financial cost of their cyber risk, and how to mitigate it.” BCS cyber liability insurance products are underwritten by BCS Insurance Company, OH (Administrative offices: Oakbrook Terrace, Illinois). BCS is the sixth largest writer of admitted cyber products in the U.S. per A.M. Best. Products are available via insurance brokers in 49 states and the District of Columbia. Corax is the leading and largest source of cyber exposure data and predicted loss costs of breach and network outage events. |
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