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Learn all about the unique risk reports Corvus delivers with a Smart Tech E&O policy
Corvus has always delivered a Dynamic Loss Prevention report, which details policyholder IT security findings and recommendations, with our Smart Cyber and Smart Tech E&O policies.
In October 2020, we launched a new version of the DLP report just for Tech E&O policyholders. All of the main cyber risk scores remain, with a few key differences, including an industry-first score measuring the risk of costly litigation brought by customers of your client.
What you'll find in the Smart Tech E&O DLP Report
1. Professional Services Reliability and Data Breaches Score
This aspect of the report relies on the same underlying assessments that drive the Business Interruption & System Failure sub-score in the Cyber DLP report. The key difference for tech companies and managed service providers is that IT system reliability takes on a different significance when it means that an incident could impact their customers' businesses, creating E&O risk. This update makes it easier for Tech E&O clients to understand what this is measuring in relation to the E&O coverage they are buying.
2. Client Litigiousness Score
An entirely new addition to the report is our industry-first Client Litigiousness score, developed by our Data Science team. This novel score measures the risk of costly law suits based on your client's industry, size and the specific clients or customers named on the application. Using a vast database of legal filings, we can assess both the relative likelihood of a given set of key customers to bring suit after a cyber incident, and the susceptibility of the client based on the fundamentals of their business (irrespective of the specific customers named in the application). These two key factors are combined into a single score out of 100, like the other sub-scores that measure different aspects of cyber risk.
3. A full set of Cyber Exposures scores and recommendations
Just like the Smart Cyber DLP, your client will get a full rundown of their cyber risks, along with recommendations, in categories like Ransomware and Cyber Extortion, Phishing, Network Security, and more.