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Vienna Insurance Group has launched a specialist cyber security company focused cyber risk management for small and medium-sized companies.

Called Cyber Risk Solutions GmbH (CyRiSo), the company provides comprehensive support to help companies reduce cyber risks and to prevent and resolve any damage caused by cyberattacks.

Christiana Bruckner and Michael Ganzwohl have been appointed as managers of the new company. Bruckner draws on many years of experience in sales and business development. She has supported major Austrian and international companies to develop new customer segments and markets for cyber security consulting, services and software. Ganzwohl has many years of experience in the area of cyber security in Austria. He worked in Singapore as CEO of the Asia Pacific region of an international cyber security consulting and service company.

CyRiSo examines cyber risks holistically for the customer and is mitigated in the most effective way possible using the appropriate measures. The service portfolio includes consulting and managed services (notably risk rating, technical and organizational security checks, management of security incidents and crisis management, and ongoing management of information security and data protection).

Risk management services are available not only to existing and new customers of the group and distribution partners, but also to third parties.

CyRiSo’s offering includes countermeasures against ransomware, a method of attack that is currently particularly prevalent and causes IT infrastructures to be encrypted and, in turn, high ransom payments to be made. To mitigate these risks, technical and organizational measures must be implemented in advance to minimize the impact of potential business interruptions or, ideally, to prevent them altogether. This involves testing and training recovery processes.

“If a cyberattack occurs despite preventative measures, CyRiSo is on hand to work with the company to resolve the security incident as quickly as possible,” explained Christiana Bruckner and Michael Ganzwohl, highlighting one example of CyRiSo’s remit.

VIG said cyber attacks have become a key issue for businesses and represent one of the greatest challenges of our time. According to the World Economic Forum’s latest Global Risks Report 2024, cyber insecurity is predicted to be the fourth largest global risk over the next two years.

“As the largest insurance group in Central and Eastern Europe and the leading insurer in corporate business, we are committed to providing comprehensive solutions and expertise to customers in the region,” commented Christoph Rath, deputy member of the managing board of Vienna Insurance Group.

“This not only includes our insurance products, but also complementary services, which we now offer through our new cyber security company CyRiSo. Through this, we can provide comprehensive support and expertise to small and medium-sized companies on the key issue of cyber security,” said Rath.

Source: Vienna Insurance Group

Topics Cyber New Markets