SCOTTSDALE, Ariz., May 7, 2013 (GLOBE NEWSWIRE) -- Ascent Underwriting. today announced that it has partnered with IDT911, North America's premier identity and data risk management services provider, to deliver proactive and reactive privacy breach services to all business policyholders. Included with these services are education, training, and access to experts who assess breach risk and respond should a privacy breach occur. These services are tailor-made for businesses that manage, store, and share data of all kinds, including customer, credit, patient, and other sensitive information.
According to a recent survey, cyber threats are the top business risk concern for executives. Eighty percent of executives and insurance brokers polled said they find it difficult to keep pace with changing cyber threats, leaving their companies exposed to a privacy breach, financial loss, and reputational risk.
Ascent Underwriting will be offering privacy breach assistance through select brokers in Canada, the United States and Europe. The company prides itself on its ability to educate about the need for a cyber product. Policyholders will work directly with well-informed brokers to determine the appropriate coverage limits in order to maintain the proper protection for policyholders' risks.
"Having the right privacy breach training and response services will help Canadian businesses defend reputation, credibility and trust that could be easily damaged by even the smallest data exposure," said David Umbers, a director of Ascent. "Businesses look to their insurer for cutting-edge solutions and we know that IDT911's experience in the Canadian market will support our privacy breach efforts."
The privacy breach services provided to Ascent Underwriting's policyholders include:
An online breach website featuring exclusive resources to help business owners recognize data risks, as well as federal and provincial compliance laws and their notification requirements
Access to IDT911's online training tools to help businesses better understand privacy risks and manage their data liabilities
Proactive, on-call professional assistance to help companies enhance their data privacy procedures
Response services to assist breach victims and help them avoid identity theft and fraud
Project management services that will help mitigate the total costs that might be incurred as a result of a privacy breach
"We are excited about the opportunity to expand our Canadian business efforts with Ascent Underwriting as this is our first relationship with a Lloyd's supported Managing General Agent in Canada," said Nate Spurrier, Canadian director, IDT911. "Ascent Underwriting has a lot of experience with this product in the US and European markets and we are excited to see how their experience changes the Canadian cyber market."
To learn more about Ascent's privacy breach services, please contact your insurance broker or visit the Ascent Underwriting Breach Response website.
About IDT911
Founded in 2003, IDT911 is North America's premier consultative provider of identity and data risk management, resolution and education services. The company serves over 17.5 million households across North America and provides fraud solutions for a range of organizations, including Fortune 500 companies, North America's largest insurance companies, corporate benefit providers, banks and credit unions and membership organizations. Since 2005, the company has helped more than 600,000 businesses manage their risk of data breaches. IDT911 is the proud recipient of several awards, including the Stevie Award for Sales and Customer Service and the Parent Tested, Parent Approved award for social networking monitoring tool SocialScout. For more information, please visit www.idt911.ca, www.facebook.com/idt911 and www.twitter.com/idt911.
Ascent Underwriting is a specialist Managing General Agent (MGA) developing and underwriting emerging cyber risk policies on behalf of a number of Lloyd's Syndicates accessed by London Market brokers to protect their clients worldwide.
Ascent has been initially formed as a trading division of Safeonline LLP whilst awaiting independent FSA and Lloyds regulatory approval, which is expected to be completed during 2013
Additional information may be found at www.ascentunderwriting.com.
Ascent Partners with IDT911 to Offer Cyber Policyholders Privacy Breach Assistance
Cyber policyholders will now have access to privacy breach resources and services to mitigate financial and reputational damages
| Source: Identity Theft 911