The program is a proactive approach to cyber risk management, aimed at safeguarding businesses against cyber threats and minimising potential losses. 

The company’s overall cyber insurance strategy includes tailored products, risk mitigation tools and services, and a network of cyber incident response partners for agents and customers. 

The Hanover is a leading P&C player in the US marketplace

The Hanover Insurance Group offers a range of property and casualty insurance products and services to businesses, individuals, and families. The company was founded in 1852 and is headquartered in Worcester, Massachusetts.

However, the company also provides a variety of insurance solutions, including personal and commercial auto insurance, homeowners insurance, workers’ compensation insurance, general liability insurance, and professional liability insurance. It also offers specialized insurance products for industries such as healthcare, hospitality, and construction.

The Hanover has concentrated on technology products in recent years

According to reports, the company also has a strong focus on innovation and technology, with initiatives such as the Hanover Risk Solutions, which provides customers with resources and tools to help manage their risks, and the Hanover Digital, which offers a suite of digital tools to help agents and customers simplify insurance processes.

To help address an array of risks, the Hanover CyberSecure Program offers business solutions including:

• Managed detection and response – Monitoring for cyber threats and responding to threat alerts requires extensive time and a unique skillset that often is beyond the capabilities of business security teams. Managed detection and response combines technology with human expertise to rapidly identify and contain threats across a business’s entire attack surface.
• Data backup and recovery – Data loss can cause costly downtime, and some businesses may fail to fully recover from such incidents. This service helps keep data safe, compliant and easily recovered, while reducing the risk and lessening the impact of new and emerging data breach threats.
• Multi-factor authentication (MFA) – Cyber criminals often steal usernames and passwords to attack accounts and gain access to systems. MFA provides a user verification method that helps impede such attacks, while reducing login time, lowering risk and eliminating passwords.
• Data breach response planning – Having a response plan in place can help significantly reduce the impact of a data incident. These tools help businesses understand current exposures and establish a response plan.
• Endpoint protection and response – End-user devices, such as laptops and cell phones, are often leveraged by cyber criminals to gain access to business networks. Endpoint protection and response provides visibility across organisations’ endpoints, helping keep networks and devices safe from threats while working quickly to stop active attacks.

A cyber program that offers a low-cost cyber solutions

The Hanover CyberSecure Program is delivered through strategic partnerships, with no charge or at a discounted rate, and is designed to cater to the unique vulnerabilities of each organization. 

Eric Cernak, president, cyber, at The Hanover, emphasised that no business can consider itself safe from cyber risk and that the program brings together vetted industry experts to provide policyholders with a variety of solutions to help protect their businesses.

“No business is immune to cyber risk, and every organisation has unique vulnerabilities. With thousands of cyber risk management service providers in the marketplace, it can be challenging to know which industry experts to turn to.”

He added: “The Hanover CyberSecure Program brings together a variety of solutions offered through vetted industry partners, making it easy for policyholders to leverage the services to help protect their businesses from cyber threats and prevent cyber losses.”