CUNA Mutual Group has unveiled CyberRisk Hub, an online educational enhancement to its Cyber & Security Incident insurance package that will go live on April 2, the company announced.
Credit unions got a preview of CyberRisk Hub at the CUNA Governmental Affairs Conference held in Washington March 18-22.
The CyberRisk Hub site provides news, articles, best practices, whitepapers and blogs that will inform credit union CSI policyholders on cyber liability and data breach risks, a variety of risk management and compliance tools, and loss mitigation information in the event of a data breach.
Other features include a “Breach Coach,” which shows policyholders how to notify CUNA Mutual Group of a potential data breach and access the breach by contacting Kroll Fraud Solutions, and “Incident Roadmap,” a detailed overview of the services offered in Kroll’s Professional Service Agreement that can be accessed by all CSI policyholders.
“The evolution of the cyber world and virtual servicing are creating an emerging set of new risk exposures that can damage a credit union’s reputation, shake members’ trust and cost tens of thousands of dollars to repair,” said Brad Mundine, senior manager of risk management for CUNA Mutual Group. “CyberRisk Hub adds online tools and resources to help credit unions develop a proactive approach to managing and responding to cyber risk.”
The new site is offered free of charge to policyholders and can be accessed from CUNA Mutual Group’s online Protection Resource Center with no additional required login.
The CSI Package, a combination of a broad insurance policy and data breach protection services, was launched in October 2010 and is now used by approximately 300 credit unions, the company said.
