A group of cyber insurers have announced the formation of CyberAcuView, a company dedicated to “enhancing cyber risk mitigation efforts” across the insurance industry.
Through the “collective expertise” of its members, CyberAcuView will compile and analyze cyber-related data to enhance value and service to policyholders and help ensure a competitive market for cyber insurance.
Mark Camillo, most recently head of Cyber, EMEA at AIG, has been appointed as its CEO.
The group added that the founding members of CyberAcuView will use their collective expertise to help the industry enhance the value and service for all policyholders in their cyber risk mitigation efforts by:
- Providing industry best-practices to improve resilience to cyber risk;
- Proactively engaging with regulators, law enforcement and other security agencies to counter cybercrime and the rapid rise of ransomware;
- Developing systemic risk solutions and advancing cyber policy language to improve market efficiencies; and
- Analyzing cyber trends to provide enhanced visibility on cyberattacks and the causes of loss so that insurers can identify critical controls and educate policyholders on loss prevention strategies.
Joining Camillo on the leadership team is Monica Lindeen, former Insurance Commissioner for the State of Montana and past president of the National Association of Insurance Commissioners (NAIC), as director of Regulatory Affairs; and James Schweitzer, a long-time veteran of the FBI and former COO of the National Insurance Crime Bureau (NICB), as director of Law Enforcement Engagement.
Camillo said: “The cyber landscape continues to evolve with coordinated attacks becoming more frequent and disruptive.
“Combining resources from across the insurance industry will allow us to better understand cyber trends, anticipate and potentially mitigate future attacks, and help improve overall cyber resilience.”