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United States : Major insurance broker to acquire cybersecurity firm Stroz Friedberg.

One of the world's major insurance brokers, Aon, will take over Stroz Friedberg, the cybersecurity company that worked with Yahoo, Sony and others after they were hacked.

The Chicago-founded insurance company and the New York-based security firm would jointly assess clients' risk and sell them tools to guard against attacks, as well as insurance in case an attack does occur. They could help a credit card provider, for instance, detect weaknesses and provide them with access to capital if they have to reissue cards.

Financial terms of the deal, which would close within 30 days, were not disclosed.

Stroz Friedberg CEO Michael Patsalos-Fox said enhanced awareness has helped companies sell insurance and security tools to firms desperate to stave off an attack.

He added, "Three years ago, you could barely get a company to buy proactive services". Clients have now become more aware of the risks of improperly guarding against cyber threats.

[c] 2016 Al Bawaba ( Provided by SyndiGate Media Inc. ( ).

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Publication:Mena Report
Date:Oct 12, 2016
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