Based on a risk evaluation model universally used by property underwriters for hundreds of years, Chubb’s Cyber COPE® combines underwriting, data analytics, and various security disciplines into a structured framework, providing risk managers with a tool to better communicate with the organization’s security experts and to understand their organization’s cyber risk posture.

Benefits

  • Innovative approach to cyber risk management for large organizations
  • Proprietary framework, grounded in Chubb’s 15+ years of cyber underwriting and claims experience, loss experience, data analytics, and relationships with the world’s leading cyber risk organizations
  • Integrates both objective and subjective criteria into a comprehensive risk evaluation process built around four key elements

Key Elements of Cyber COPE®

Components

  • Number of endpoints
  • Number of network connections
  • Software versions
  • Data center locations

Protection

  • Data retention
  • Firewalls
  • Incident response/response readiness
  • Monitoring
  • Encryption

Organization

  • Policyholder’s industry
  • Quality of IT and security related policies
  • Percent of budget allocation for security
  • Use of industry standards
  • Quality of information governance
  • Percent of outsourced services
  • Board level risk appetite

Exposures

  • Political or criminal motivation
  • Types of outsourcing
  • Common threat vulnerability
  • Type and amount of sensitive information
  • Reliance on network for operations
  • Compliance and regulatory requirements
Rethink Cyber Underwriting

Be the first to learn about our new model for underwriting cyber insurance, intended to simplify and improve the assessment of both cyber and privacy risks.