Cogentric RiskInsure-TM- Now Available for Carriers, Brokers and Risk Managers to Insure Against Technology-related Risks.Business/Technology Editors RIMS NEW ORLEANS--(BUSINESS WIRE)--April 15, 2002 Offers scalable, cost-effective process for managing cyber (1) From "cybernetics," it is a prefix attached to everyday words to add a computer, electronic or online connotation. The term is similar to "virtual," but the latter is used more frequently. See virtual. risks Cogentric, developer of Alcon software, announces RiskInsure(TM) for insurance carriers, brokers and risk managers. RiskInsure is designed to help alleviate and protect businesses from the risks of cyber-attack. Accurately measuring potential damage to electronic information from hackers, viruses, present and former employees, is critical to survival of any company. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. William Fandrich, Cogentric president and COO, "Risk management is no longer just an IT issue. It is an essential business concern that must be included in an organization's overall risk management process. Cyber insurance, an emerging multi-billion dollar market in annual premium, lacks the loss history and market data of other types of traditional insurance policies. As companies increase their reliance on their web infrastructure to support their business expectations, the susceptibility susceptibility the state of being susceptible. Refers usually to infectious disease but may be to physical factors such as wetting or to psychological factors such as harassment. to loss, damage and misuse of information is magnified. This, coupled with new government regulations (HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, , Basel Accord Basel Accord Agreement concluded among country representatives in 1988 in Switzerland to develop standardized risk-based capital requirements for banks across countries. , and Gramm Leach Bliley Act), compounds the necessity for Information Technology Risk analysis and appropriate cyber liability insurance coverage." RiskInsure leverages the Cogentric Alcon Security Information Management Platform to provide a one-stop solution for risk identification, mitigation, protection and transfer. RiskInsure measures and prioritizes risk levels of security policies, processes and technologies, to produce focused plans to remediate re·me·di·a·tion n. The act or process of correcting a fault or deficiency: remediation of a learning disability. re·me identified vulnerabilities. An intuitive, highly-secure Web-based interface efficiently guides the user through targeted questions on a company's specific security procedures and business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets . RiskInsure evaluations are formally recognized by participating carrier and broker partnerships which offer protection through cyber insurance policies. RiskInsure Benefits at-a-Glance -- Unique product-based approach to analyze the security aspects of electronic infrastructures -- Scalable and cost-effective analyses for understanding e-business risks -- Loss control capabilities -- Exceptional support for underwriters, brokers and their plan with prioritized recommendations -- Loss control capabilities -- Exceptional support for underwriters, brokers and their customers About Cogentric, Inc. Cogentric is the developer of Alcon, software designed to simplify the management of a company's electronic business environment and to assess the levels of risk and criticality of the components of a company's information security practices. The company is headquartered in Portsmouth, New Hampshire Portsmouth, New Hampshire is a city in Rockingham County, New Hampshire in the United States of America. It is the fourth-largest community in the county[1], with a population of 20,784 as of the 2000 census. and can be found on the Web at www.cogentric.com |
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