Cyber Insurance , Events , Governance & Risk Management

Latest Cyber Insurance Policy Takes Aim at Phishing Attacks

Generali Poland's Cyber Insurance Policies Come With YubiKey MFA and Education Mathew J. Schwartz (euroinfosec) • June 19, 2024

Marcin Gajkowski, head of liability underwriting team, and Michał Balwiński, senior underwriter and cyber practice leader, Generali Poland

Many small and midsized organizations still have a poor understanding of cyber insurance. Effective cybersecurity requires a comprehensive approach, integrating insurance as part of a broader, proactive strategy rather than relying on it as the last line of defense in risk management. To address these challenges, Generali Poland has introduced an innovative anti-phishing initiative as part of its cyber insurance offerings.

Acknowledging the critical role phishing plays in cyberattacks such as ransomware and data theft, the insurer is offering policyholders YubiKey-based multifactor authentication as part of the company's coverage.

"One of our pillar strategies is to be lifetime partner," said Marcin Gajkowski, head of the liability underwriting team at Generali Poland. "What it means is to offer some prevention elements to our clients, to the policy itself."

Michał Balwiński, senior underwriter and cyber practice leader, Generali Poland, said both insureds and intermediaries need education. "In cyber risk, there's still a lot of work to do," he said.

In this video interview with Information Security Media Group at Infosecurity Europe 2024, Balwiński and Gajkowski discussed:

The benefits of educating SMBs and intermediaries to enhance cyber resilience through local events and training sessions;
Why cyber insurance should complement a proactive cybersecurity approach;
Generali Poland's collaborations with partners to offer enhanced security solutions and market education.

Balwiński has experience in Python, property insurance, cyber-risk assessment and data analysis. At Generali, he advises on issues related to cyber insurance and information risk management.

Gajkowski is an insurance professional with a background in commercial general liability and professional indemnity. He has held senior leadership roles at Warta, HDI-Gerling Poland and PZU.