60% of businesses admitted experiencing at least one IT security incident which led directly to or related to financial fraud, according to Kaspersky Lab’s latest report based on Corporate IT Security Risks Survey results - a global survey of more than 5,500 company executives and professionals from 26 countries
Kaspersky Lab will provide IT forensics and incident response services to Allianz Global Corporate & Specialty SE (AGCS) cyber insurance customers in Germany, Austria and Switzerland. In a cyber crisis, businesses can now benefit from Kaspersky Lab’s expertise, helping them to limit the damage of security incidents through fast access to Next-Gen services and the ability to initiate a highly professional investigation into the incident. As one of the selected IT forensics partners of AGCS, Kaspersky Lab´s services will be available in Germany, Austria and Switzerland.
In the "Allianz Risk Barometer 2017", cyber incidents rank third in business risks for companies worldwide . Kaspersky Lab survey results found that big corporations have to spend an average of $US 861,000 to recover from a cyber incident, while the average costs for medium-sized enterprises account for $US 86,500 .
Kaspersky Lab incident response: Digital forensics and malware analysis
"Allianz Cyber Protect Premium", AGCS´s cyber insurance policy for businesses, does not only cover the financial loss incurred by business interruption, data recovery or third-party liability claims, but also the costs for forensic IT services.
Kaspersky Lab’s digital forensics will support the troubleshooting of imminent security problems and the limitation of damage as well as the analysis of malware, technical causes and investigation into the entire incident. The analysis provides a comprehensive overview of the attacker, the technologies used, the duration of the attacks, the targets of the operation and their consequences. As AGCS´s IT forensics partner, Kaspersky Lab may then recommend and implement strategies for defense and recovery, as well as measures for future prevention of security incidents in businesses that have been affected.
It can also preserve evidence for potential law enforcement. Besides providing technical services, AGCS cooperates with other service partners to accommodate victims of cyberattacks both in strategic crisis communications and, through specialized lawyers, in data privacy proceedings. The AGCS insurance policies cover not only targeted, but also broad scattershot cyberattacks.
Cyber insurances as part of the security concept
"Being part of a holistic security strategy, cyber insurance policies become more and more important. With its twenty-year experience in threat intelligence, Kaspersky Lab is able to recognize cyberattacks early on and professionally, and it can react to them based on digital forensics," says Mr. Holger Suhl, General Manager DACH with Kaspersky Lab. He adds: "We are glad to protect AGCS´s customers in Germany, Austria and Switzerland from cyberattacks and consequential damages as a partner of Allianz Global Corporate & Specialty."
"We are happy to expand our group of IT forensics partners by Kaspersky Lab," says Mr. Martin Zschech, Head of Financial Lines, AGCS Central & Eastern Europe. "Thus, we can provide our cyber policy customers with assistance by a pioneer and market leader in the cyber security branch in the event of a cyber crisis. For any affected business, it is decisive that the cause and the extent of a cyber incident are quickly detected in order to protect its goodwill and to go back to business as usual as soon as possible."
 Study „Corporate IT Security Risks“ by Kaspersky Lab in cooperation with B2B International. The report "Measuring the Financial Impact of IT Security on Businesses” is available at http://newsroom.kaspersky.eu/fileadmin/user_upload/de/Downloads/PDFs/Kaspersky_Lab_Report_IT_Security_Economics_GLOBAL_final.pdf.
- Information on the cyber insurance "Allianz Cyber Protect Premium" policy: http://www.agcs.allianz.com/services/financial-lines/cyber-insurance/
- Information on Security Intelligence Services von Kaspersky Lab: https://www.kaspersky.com.au/enterprise-security/intelligence-services
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