SAN FRANCISCO--(BUSINESS WIRE)--Resilience, a cyberinsurance provider that leverages patented cybersecurity expertise to mitigate risk for companies threatened by cybercrime, today announced that it has joined the Institute for Security & Technology’s Ransomware Task Force (RTF), also announced today. Resilience is a founding member alongside other industry leaders Aspen Digital, Citrix, The Cyber Threat Alliance, Cybereason, The CyberPeace Institute, The Cybersecurity Coalition, The Global Cyber Alliance, McAfee, Microsoft, Rapid7, SecurityScorecard, Shadowserver, Stratigos Security, Team Cymru, Third Way, UT Austin Strauss Center, and Venable.
The RTF’s founding members understand that ransomware is too large of a threat for any one entity to address, so they have come together to provide clear recommendations for both public and private action that will significantly reduce the threat posed by this criminal enterprise.
“Ransomware is no longer a purely financial threat businesses, but now menaces schools, city government, and even hospitals,” said Michael McNerney, COO of Resilience and Chair of the Institute for Security & Technology. “We need a multi-faceted approach to dealing with the scourge of ransomware that includes cutting-edge technology, deep security expertise, world-class underwriting, and superior claims services. Resilience is proud to be a founding member of the Ransomware Task Force and we look forward to lending the expertise of our entire team alongside other organizations in this pioneering effort.”
Led by seasoned veterans of U.S. military and civilian intelligence agencies, information security companies, and leading insurance providers, Resilience will provide initial executive support for the RTF via its Chief Information Security Officer, Michael Convertino. Convertino previously served as the CISO of Twitter and the CTO of F5 Networks, and is a retired U.S. Air Force cyber warfare officer, Convertino will serve as a technical advisor to the RTF.
Resilience Insurance offers comprehensive coverage across the entire lifecycle of a cybercrime event via primary and excess policies designed for organizations with $100 million to $5 billion in revenue. Resilience provides unique capabilities to CISOs and risk managers, including actionable cyberrisk assessments, technical risk engineering, and intuitive coverage that tracks alongside the progression of a cyber incident. Resilience policyholders will also benefit from pre-breach, hardening, and claims services led by Chief Claims Officer Michael Phillips.
Resilience provides comprehensive insurance coverage and patented cybersecurity tools to protect mid-market companies. By bringing together security, insurance, and recovery, Resilience goes beyond risk transfer to help clients become cyber resilient. Resilience Insurance, the cyber program manager of Intact Insurance Specialty Solutions – rated A+ by A.M. Best – leverages Cyber Meteorology, a proprietary data-driven risk analytics platform, to provide highly targeted coverage and allowing for a superior claims experience. Resilience is backed by Lightspeed Venture Partners, Founders Fund, CRV, Intact Ventures, UL Ventures and John Thompson, Chairman of Microsoft. For more information, visit www.resilienceinsurance.com and follow us on Twitter and LinkedIn.