HDI Global aims for growth in Cyber with integrated Readiness Workshops

hdi-global-aims-for-growth-in-cyber-with-integrated-readiness-workshops

By integrating so-called ‘Readiness Workshops’ into its cyber policies, HDI Global offers clients the opportunity to prepare intensively for emergency situations. The workshops are being developed in collaboration with Crawford & Company and its network partners and will initially be offered in Europe. During the workshops, clients get to know their Incident Response Manager and go through a potential incident scenario with them and a forensic expert. Processes and responses can be strategically enhanced to greatly reduce risks in the event of an incident. This integrated prevention approach is a key element of HDI Global's strategy to sustainably grow in the cyber market on a global scale through additional client offerings.

As cyber attacks become more frequent and complex, it is crucial for companies to implement the appropriate strategies and response plans at an early stage to minimise the risk of data breaches and business interruption. The integration of preventive workshops into HDI Global's policies is an innovative offering in cyber insurance coverage. These workshops reinforce the insurer's stance that collaborative preventive steps are necessary to prepare effectively for possible cyber incidents. HDI Global will bear the full cost of the workshop. 

In practice, the Readiness Workshops, which can last up to four hours, provide policyholders with the opportunity to get to know as well as interact with the Incident Response Manager from their Cyber policy and a forensics network partner of HDI Global. This involves actively simulating potential threats using an exemplary ransomware scenario. HDI Global is taking care of scheduling and coordinating the workshop, allowing policyholders to focus on optimal preparation. 

In addition to going through a claims process, policyholders receive feedback on their existing and previously submitted Incident Response Plan (IRP). This is done in collaboration with Crawford & Company's network partners, who have both insurance expertise and incident response knowledge, ensuring efficient and transparent support. Clients are invited to submit their IRP at least 14 days before the workshop to receive qualified feedback and initial support in its preparation.

“We want to grow globally in the cyber market,” says Dr Mukadder Erdönmez, Member of the HDI Global Executive Board, responsible for Third-party Liability, Cyber Insurance and Motor. “The Readiness Workshops now integrated into our Cyber policies are an expression of our client-oriented strategy as a Partner in Transformation. For us, this means 'securing before insuring'. With our globally progressive strategy in the cyber market, we are strengthening our clients’ trust in the protection and efficiency of our solutions as well as in their own processes.”

Meike Röllecke, Head of Cyber at HDI Global, adds: “Prepared companies suffer significantly fewer business interruptions and financial impacts due to cyber incidents, and the Readiness Workshops offer the opportunity to gain practical experience and prepare effectively. The question is no longer whether a company will be attacked, but when. With the services integrated into our policies, we help clients to best prepare for threats.”