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Everest partners with Soteria for cyber security tools

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Everest Insurance’s Alternative Solutions Group said Tuesday it is collaborating with cyber security firm Soteria L.L.C. to offer additional services in conjunction with the launch of a new private equity insurance policy.

Everest Insurance, a unit of Hamilton, Bermuda-based Everest Re Group Ltd., said Charleston, South Carolina-based Soteria, which is a group of former U.S. government cyber security experts, will offer three solutions to policyholders as part of its Elevation Private Equity Insurance policy, including a network vulnerability scan, routine imposter domain monitoring and a phishing tool that helps mitigate the risks associated with the most common cyber threats.

Everest said it also will offer the tools to private equity firms’ portfolio companies.

Robert Clark, New York-based head of Everest Insurance Alternative Solutions Group, said the new Elevation policy form offers directors and officers, errors and omissions, employment practices and third-party cyber liability coverage, with available limits of up to $25 million.

“The Soteria relationship is unique,” he said. “We’re obviously trying to come up with some innovative client-focused solutions, and trying to take a holistic approach to private equity clients.”