Cyber Insurer BOXX Fills Gap Between Insurance and Security With Virtual CISO for Small Business

Fast-growing cyber insurance start-up BOXX Insurance today announced the launch of Virtual CISO (vCISO), an enhanced service that makes it easier and more affordable for small to mid-sized businesses to stay ahead of crippling cyber outages. BOXX vCISO signals the development of BOXX as a ‘first of its kind’ cyber insurer for Canadian businesses that provides an all-in-one solution: advisory services, managed cyber security and cyber insurance.

Recent research reports the number of cyberattacks against SMEs in every industry jumped by at least 50% last year. Attacks targeting the healthcare and transportation sectors were the highest, rising by more than 125%. Incidents leveled against retail, manufacturing and professional services companies increased between 86% and 90%.

BOXX’s newest service comes at a crucial time of unprecedented change and increasing digital dependency for SMEs that are also expected to meet higher security thresholds demanded by their enterprise clients, regulators and cyber insurers. “With cyber threats growing daily in both sophistication and frequency, many business owners and operators know there is a widening gap between what they have and the security horsepower their cyber insurer and enterprise clients require. We are here to fill that gap,” said Neal Jardine, BOXX Global Cyber Risk Intelligence and Claims Director. “Their dilemma is where to go for help”.

The BOXX vCISO service addresses this gap by providing business owners with the confidence they need to meet the increasing expectations from insurers, clients and regulators without the burden of expensive security hardware and personnel to manage it. The service is provided by a team of cyber security experts and risk management professionals with a deep history in cyber security, incident response and insurance claims.

BOXX also announced the appointment of Jack Brooks as Head of BOXX Hackbusters. Brooks brings deep domain expertise, having formerly created the vCISO practice in a leading international MSSP and successively senior technology leadership roles in both public and private enterprises prior to this.