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Every Hiscox cyber policyholder now has complimentary access to thousands of dollars of cybersecurity tools through Paladin Shield.
Hiscox recently implemented a coverage enhancement on every policy called the Ransomware Event Coinsurance Responsibility Endorsement. This endorsement states that Hiscox will be implementing a 25% co-insurance on any ransomware claims, unless the insured registers for Paladin Shield with Hiscox. Hiscox will waive coinsurance on policies that have activated Paladin Shield.
Paladin offers enterprise grade cyber protection for businesses, scanning their system to detect threats and is completely free and included in the cost of the policy. Paladin Shield features that are offered to Hiscox insureds include protection against ransomware, phishing, and fraud. The policyholder will get immediate access to vulnerability monitoring and critical alerts. Paladin uses machine learning to identify danger online and protect employees against malicious emails, websites, and downloads. Insureds can also explore Shield’s full suite of active protection and awareness training modules, all of which set up in minutes and can be used free of charge by every insured.
Activation of a Shield account does not require adoption of any Paladin protection tool, or any modification to a company’s existing IT systems. In less than a minute, the insured can verify their information and create a password. Policyholders can visit https://hiscox.meetpaladin.com/ and enter their policy number to get started. Any company can implement Paladin Shield in minutes, even without an IT team.
Paladin is included in the price of Hiscox’s premium, so insureds are not paying any more for this extra layer of protection.
If your clients have Cyber insurance through Hiscox, make sure to check that they’ve followed the link to register for Paladin.
