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Trium Cyber announces its partnership with HITRUST. This collaboration introduces an exclusive cyber insurance product available solely to HITRUST-certified customers, marking a new benchmark in aligning information risk assurances with insurance underwriting.
The insurance product, initially tailored for HITRUST r2 certified entities, aims to tackle the escalating complexities and disparities within the cyber insurance sector. Organisations navigating insurance procurement encounter mounting challenges in eligibility determination, volatile pricing, and cumbersome application procedures. Conversely, insurers grapple with accurately assessing and underwriting cyber risks due to insufficient and inconsistent assessment methods.
Trium’s choice to collaborate with HITRUST stems from the programme’s comprehensive controls framework and assurance methodology. This framework offers pertinent and validated controls, rigorously tested against contemporary threat landscapes. Additionally, it provides dependable implementation verification and measurement practices, ensuring robust risk management.
Josh Ladeau, CEO of Trium, commented: “Trium found in HITRUST not just a certification, but a partnership that brings clarity and confidence to cyber risk underwriting, something our industry has been struggling with.”
“By integrating HITRUST’s rigorous standards and comprehensive third-party validations, we can fully understand the residual risk to insure and thereby offer a superior insurance product that accurately reflects the actual risks businesses face.”
This partnership represents a pivotal development in the insurance sector. It introduces a significant opportunity for underwriters such as Trium Cyber to leverage HITRUST’s assessment findings through its Results Distribution System (RDS). This system offers a secure API, streamlining and fortifying the underwriting process for enhanced efficiency and security.
Daniel Nutkis, CEO of HITRUST, said: “Our collaboration with Trium Cyber is a testament to HITRUST’s commitment to innovation and excellence in information security and risk management.”
“This alliance not only validates HITRUST’s model and methodologies but also marks a significant step forward in aligning cybersecurity assessment with real-world insurance needs as essential tools for risk management.”
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