Endurance Insurance Introduces New Cyber Extortion Response Service
PEMBROKE, Bermuda - January 17, 2017 - Endurance Specialty Holdings Ltd. (ENH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that the company has introduced a new service enabling its insureds to better respond to ransomware and similar extortion events. Endurance`s Breach Assist Counsel, Mullen Coughlin LLC, a recognized leader in incident response legal services, coordinates with leading providers of forensic and response services to assist Endurance`s clients in the event of a data breach or other data security incident. Kivu Consulting, a computer forensic company, has been providing computer forensic investigation services as part of that network and will now also offer extortion response services.
Mullen Coughlin`s and Kivu`s expert teams work with ransomware victims to guide them as they respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency, analyzing and testing decryption keys to ensure they are effectively and safely applied without further compromising the company`s network, and preparing documentation for reporting events to appropriate law enforcement agencies.
Mr. Brad Gow, Senior Vice President, Endurance Pro, commented "Companies faced with ransomware are often ill equipped to obtain Bitcoin or other cryptocurrency under tight deadlines. By providing our policyholders with access to experts to guide them through the payment and decryption processes, we assist them to minimize disruption to their business operations and execute the crisis response in a manner that best protects our insured from future harm."
Mr. Christopher Sparro, Chief Executive Officer of U.S. Insurance added, "We are excited about this new service as we continue to evolve our cyber response capabilities, adding innovative products and services for our clients. Mullen Coughlin and Kivu are two members of a selected team of best-in-class preferred vendors that our breach response team can access to assist our insureds to quickly and professionally respond to breaches."
Mr. John Mullen, Partner, Mullen Coughlin, stated, "Rapid growth in ransomware attacks is impacting both small and large organizations. Given the increasing complexity of the attacks, some targets have experienced multiple extortions if they don`t effectively manage the initial response. We are extremely pleased to be offering these technical support services as they are a natural complement to the cyber extortion coverage that Endurance provides their clients."
About Endurance Specialty Holdings
Endurance Specialty Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, Endurance writes agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines and specialty lines of reinsurance. We maintain excellent financial strength as evidenced by the ratings of A (Excellent) from A.M. Best (XV size category), A (Strong) from Standard and Poor`s and A2 from Moody`s on our principal operating subsidiaries. Endurance`s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Endurance Specialty Holdings Ltd., Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda. For more information about Endurance, please visit www.endurance.bm.
About Mullen Coughlin
Mullen Coughlin LLC is a law firm uniquely dedicated to servicing insured organizations of every size and from every industry faced with data privacy crises, security incidents, and risks. Having handled thousands of such events, our accessible and motivated attorneys possess experience and talent with respect to the complicated and constantly changing risks to the security of information systems and data as well as the complex state, federal, and international laws imposing requirements on organizations. Founded by John Mullen, Chris DiIenno, Jim Prendergast, and Jennifer Coughlin, Mullen Coughlin is the largest team of experienced attorneys - currently 17 - uniquely focused on providing tailored data privacy and security incident response services under the umbrella of cyber insurance, as well as pre-breach planning and compliance, breach response, regulatory investigation and management, and privacy litigation defense. Mullen Coughlin services organizations from every sector, including: Financial Services, Healthcare, Retail, Education, Government and Non-Profit and Professional Services. We think of ourselves as ".first, focused, and finest" when it comes to cyber counsel.
Contact
Investor Relations
Phone: +1 441 278 0988
Email: investorrelations@endurance.bm
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Source: Endurance Specialty Holdings Ltd via GlobeNewswire
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