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Endurance Specialty Unveils New Cyber Extortion Coverage

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Endurance Specialty Holdings Ltd. recently launched a new service that will help policyholders to better respond to cases of cyber ransom and extortion. The newly introduced service as it will be substantially value additive to the insurer’s innovative products and services portfolio. The property and casualty (P&C) insurer is optimistic about the service, which should boost its cyber response capabilities.

Notably, Mullen Coughlin LLC, a leading incident response services provider and also the Endurance Specialty’s Breach Assist Counsel, has been helping the insurer’s clients in dealing with cyber breach or other data security incident. This apart, computer forensic company Kivu Consulting, which has already been offering computer forensic investigation services, will now provide extortion response services. Both these companies have efficient and expert teams and specialize in providing guidance to ransomware victims to help them better respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency. Moreover, the teams analyze and test decryption keys to ensure security of the clients’ network.

Shares of Endurance Specialty gained 38.43% in the last six months, significantly outperforming the Property and Casualty  industry’s growth of 9.19%. The new service will help policyholders to avoid disruption in their business operations and cement shareholders' confidence on the stock, leading to further share price movement. We note that strategic initiatives like these have improved the Zacks Rank #3 (Hold) P&C insurer’s organic portfolio as well as accelerated growth.


Stocks to Consider

Some better-ranked stocks from the same space include Aspen Insurance Holdings Limited , Cincinnati Financial Corporation (CINF - Free Report) and Mercury General Corporation (MCY - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Aspen Insurance Holdings deals in insurance and reinsurance businesses worldwide. The company delivered positive surprise in one of the last four quarters, but with an average miss of 15.48%.

Cincinnati Financial engages in the P&C insurance business in the United States. The company delivered positive surprises in all of the last four quarters with an average beat of 11.82%.

Mercury General deals in writing personal automobile insurance in the United States. The company delivered positive surprises in two of the last four quarters, but with an average miss of 21.04%.

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