XL Catlin, the global brand used by XL Group plcXL recently introduced an online portal - CyberRiskIQ.com. This online resource will help clients deal with cyber security threats and data breaches efficiently through accessible cybersecurity readiness and incident response services.
CyberRiskIQ.com has been designed to provide a complete solution to cyber security issues. Hence, the online portal will not only provide cyber insurance coverage but also ensure resources to clients to curb costs, prevent the occurrence of a breach, and "protect their reputations during a cyber-event." Additionally, it will provide information, tools and insights to educate clients to be aware of and address cyber threats and network hazards capably.
Some notable features of CyberRiskIQ.com include cyber liability library facility, an incident roadmap providing an idea of the measures to take in case of a data breach, news center with articles on infringement issues and risk management, learning center with papers and webinars from XL Catlin colleagues. The portal will also feature Risk Manager's Toolbox which will provide self-help for dealing with cyber risk, and Vendor Partner Resources to help XL Catlin clients access the resources with expertise in pre- and post-breach disciplines.
The technological advancement in today's world has led to a surge in the use of Internet. But this has been followed by perils like cyber hacking and data breaches. At this juncture, the rollout of CyberRiskIQ.com with multiple client specific features should make XL Catlin's Cyber & Technology insurance business more lucrative to its existing and potential clients. An increased client base should make way for more revenues for the subsidiary as well as for the parent company.
XL Group currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks from the property and casualty insurance space are Cincinnati Financial Corp. CINF , RLI Corp. RLI and Hallmark Financial Services Inc. HALL . All three stocks sport a Zacks Rank #1 (Strong Buy).