Its purpose-built client portal streamlines the process of applying for specially purposed Insurances.
When it comes to creating and managing policies, we are all on the same page.
CoveriT is made up of general Insurance Brokers that have serviced IT professionals over many years. We are advocates for change in how Managed Services Providers are perceived as a high-risk industry by assisting in apportioning cyber risks with their clients and engaging proactively with us.
CoveriT are the originators of Cyber Partner Protect.
Our Portal provides a gateway which allows us to understand each client as serviced by an MSP for their application of Technology risks management. Through this landscape we gain a more comprehensive profile of an MSPs business as well as for those business clients being serviced.
Our aim is it to provide the MSP with consistent Insurance protection through a multiple channel of specialist underwriters we advise.
Our online service interacts with an MSP, their clients and CoveriT in real time allowing for a seamless process of communicating underwriting information.
Point of difference lies in our ability to deliver accurate, timely and important information efficiently through our portal to multiple insurance underwriting and claims handling specialists.
The MSPs contribution in providing us technology risk information specific about their clients ensures they receive cyber insurance coverage commensurate to the agreement their clients accept from their MSP to apportion CYBER risks.
In building this relationship we may then be kept informed of cyber incidents that have been left unreported or not necessarily known by an MSPs client for which an MSP can advise us on and seamlessly connect back to the client’s policy.
Policy documentation including certificates of currency are readily available via our Portal service.
Transactions are made easier where updated information can be notified to us during the policy term or when is necessary on a 12 month renewal cycle.
This would include improved technology systems implemented by the MSP that assists our understanding of risks being negotiated between insurers.
NO.
The business client is the sole ‘Insured Party’ to that policy.
How that client then chooses to deal with their MSP in consultation with CoveriT and the appointed insurance providers will determine how efficiently claims matters are then handled.
In some instances, privileged information that may be required to assess a cyber incident or event (eg; security access codes) will be negotiated between the client directly and the insurance claims handler.
Clients privacy remains paramount.
As their trusted technology advisor, absolutely. Our Portal allows the MSP to understand the coverage afforded by their clients in the form of a Policy Schedule and Certificates of currency.
In respect to claims, the MSP will most likely be the initial point of contact on most incidents which have impacted the clients technology systems in some way.
MSPs are an important conduit between insurers, CoveriT and their own clients and should be well informed on most matters unless strictly advised by the insurance claims handler at times.
Yes. To be eligible for CPP, MSPs then would accept us to manage these forms of Insurance on their behalf.
For reasons that we can be across matters to do with a cyber event that affects both the MSP and their client, this approach taken allows for an effective assessment in working between all parties involved.
NO.
We are legally bound to service the rights of the Insured parties separately.
We must accept that insurances provided to those parties respond as effectively for one as it does for the other in any given situation.
Immediately contact CoveriT and we will lodge a claims notification through to the relevant Claims Response team to promptly address matters.
It would be most effective to have the MSP, its client and CoveriT on the one call with the Response Team at that time.
CoveriT through the Claims Response team will keep parties informed of matters as it progresses during the assessment and recovery phase and to include important correspondence as it comes to hand under the CPP portal.
- Date of Incident or Discovery date?
- How will or has it effected technology systems as a result?
- Has the client system been shut down in full or part?
- What has the MSP or client done to mitigate loss (emergency precautions)
If you have an estimated quantum of the claim even at such an early stage, please share. Any investigation reports, logs, relevant correspondence that will assist moving the claim quickly between us and forensic assessors, letters of demand or court proceedings (third parties) please provide copies of these to us.
You have this duty until we agree to insure you. You have the same duty to disclose those matters to an insurer before you renew, extend, vary or reinstate the contract. This duty of disclosure applies until the contract is entered into (or renewed, extended, varied or reinstated as applicable).
There are exceptions however make it known, we must be notified of an incident which could extend to a claim by such policies within the period.