Alliance Will Help Analyze Cyber Risks and Bring Breach Avoidance and Remediation Services to Small and Midsize Businesses
JERSEY CITY, N.J., and SCOTTSDALE, Ariz., July 9, 2014 — ISO, a leading source of information about property/casualty insurance risk, announced today a strategic collaboration with IDT911TM (IDentity Theft 911®), the nation’s premier consultative provider of identity and data risk management, resolution, and education services. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK).
As part of the collaboration, IDT911 has become the ISO Businessowners Program vendor of choice for data breach avoidance and remediation services. ISO’s Businessowners Program is a package policy providing broad property and liability coverage for small and midsize businesses. ISO filed an optional businessowners cyber insurance endorsement on a multistate basis this month for a March 2015 implementation date.
The collaboration will help ISO better understand the cost of data breaches and provide a more complete picture of cyber risk. In addition, ISO businessowners customers will receive discounts on a comprehensive suite of services from IDT911, which currently serves more than 600,000 businesses in the United States, Canada, and the United Kingdom.
“Cyber risk is no longer an emerging threat — it’s a reality that businesses face every day,” said Shawn Dougherty, assistant vice president of Specialty Commercial Lines at ISO. “Our alliance with IDT911 will give those insurers writing businessowners coverage access to the services and information they need to help their customers manage the complex world of cyber risk.”
“The ramifications of a breach can haunt companies and their customers for years with reputational damage to the company’s brand, potential costly litigation, and legal issues and expenses,” said Matt Cullina, CEO, IDT911. “Cyber insurance alone is no longer enough protection from these ever-evolving cyber threats. We’re pleased ISO has chosen us as their businessowners vendor of choice to offer breach expertise to their member companies.”
ISO’s cyber insurance policies allow insurers to tailor coverage for their customers by offering set packages that protect against the most common cyber exposures, including data breaches, data replacement and restoration, cyber extortion, and business interruption.
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial underwriting, and claims information; policy language; information about specific locations; fraud identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK). For more information, visit www.verisk.com/iso and www.verisk.com.
About IDT911TM (IDentity Theft 911®)
Founded in 2003, IDT911TM is the nation’s premier consultative provider of identity and data risk management, resolution, and education services. The company serves 17.5 million households across the country and provides fraud solutions for a range of organizations, including Fortune 500 companies, the country’s largest insurance companies, employee benefit providers, banks and credit unions, and membership organizations. A subsidiary of IDT911, IDT911 ConsultingTM provides information security and data privacy services to help businesses avert or respond to a data loss incident. Together, the companies provide preventative and breach response services to more than 600,000 businesses in the United States, Canada, and the United Kingdom. IDT911 is the recipient of several awards, including the Stevie Award for Sales and Customer Service and the Phoenix Business Journal Tech Titan award for innovation in breach and fraud-fighting services. The company is the organizer of the Privacy XChange Forum, an annual conference that brings together high-profile privacy thought leaders. For more information, please visit www.idt911.com.