Cowbell now provides 24/7 incident response to cybersecurity insurance policy
Cybersecurity insurance provider Cowbell Cyber Inc. today announced a new round-the-clock service that offers policyholders comprehensive support for risk improvement and incident response.
Cowbell 365 provides 24-hour availability every day of the week, 365 days a year, bringing expertise and responsiveness from its in-house team of cyber claims specialists and cyber risk engineers. The company argues that risk remediation and incident preparedness make the difference between low- and high-impact incidents that can lead to weeks of business interruption, reputational harm and other losses. Smaller organizations do not often have the capacity to respond to incidents and are more likely to be economically paralyzed by a major attack.
That’s where Cowbell 365 steps in. Through its cyber insurance, claims and risk engineering servicing, Cowbell offer a team of in-house cyber professionals, including experienced cyber claims counsel and specialists. Its risk engineers monitor the threat landscape and assist policyholders in adopting best cybersecurity best practices.
“Cyber incidents are the worst days in the professional life of many of our policyholders,” Theresa Le, chief claims officer at Cowbell, said in a statement. “We are proud to offer them 24/7 access to Cowbell cyber specialists to provide expert guidance when they need it the most.”
Manu Singh, vice president of risk engineering at Cowbell, added that the new service “represents the ability of high-caliber experts in cyber claims and risk engineering to mitigate and strengthen the cyber risk posture of an organization, helping policyholders become proactive in their approach to cybersecurity and incident response mitigation.”
Cowbell also provided some stats on how it currently handles ransom claims, with a ransom payment necessary fewer than 25% of the time. The number is said to demonstrate that the vast majority of Cowbell policyholders have viable backups, effective business continuity and recovery plans and strategies to recover from ransomware that do not involve paying the threat actor.
Cowbell is a venture capital-backed startup, having last raised $100 million in March. Investors include Permira Advisers LLP, PruVen Capital LLC, NYCA Partners LLC and Viola Fintech GP Ltd.