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Member, Beacon International Group, Ltd.
XL Group Ltd., which does business as XL Catlin, and cyber security firm RedSeal Inc. have introduced a new measurement of network cyber resilience designed to help underwriters more thoroughly evaluate risks and help clients improve their cyber security and potentially their insurance terms.
Sunnyvale, California-based RedSeal’s network modeling and risk scoring platform creates a model from the inside out that includes physical assets as well as public and private cloud environments, the companies said Tuesday in a statement. With this data, RedSeal calculates a “digital resilience score” that measures a network’s resilience, similar to a creditworthiness score, the statement said.
This score evaluates the client’s network to determine how weaknesses from incorrectly configured devices and third-party software could impact the network, how accessible a company’s assets are to attackers, and the degree to which the network is understood, according to the statement.
The statement said once an XL Catlin client installs RedSeal and gets an initial resilience score, and again during a mid-term evaluation, the Hamilton-Bermuda-based insurer will determine if the client’s resilience warrants improved coverage terms.