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Verisk rolls out the platform for modeling cyber risks



Verisk Analytics Inc. has released ARC (Analytics of Risk from Cyber), a platform for cyber risk modeling, the data analytics provider said in a statement on Wednesday.

ARC includes individual risk models, aggregation risk models, and Verisk's probabilistic system ransomware model, to help companies analyze systemic ransomware events by simulating aggregate losses from global-scale ransomware attacks, such as WannaCry and NotPetya, which both hit 2017 , said the statement.

The product is part of Verisk's Cyber ​​Solutions Suite, built on a database containing information from more than 12 million companies, the company said.

Customers can use ARC to look at the economic impact and understand potential losses across four cyber-coverage triggered by these events: business outages; recovery and remediation of data and assets; forensic / forensic science; and extortion.

Financial loss from a major systemic ransomware attack could exceed $ 1

5 billion, Verisk said.

"Cyber ​​risk is constantly evolving and growing, especially with the digital acceleration driven by the COVID-19 pandemic," Prashant Pai, Vice President of Verisk Cyber ​​Solutions, said in the statement. "We as the insurance industry realize that this growing risk affects many of the cyber coverage both affirmatively and non-affirmatively."


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