Data security software provider Tripwire this week won a deal to become a recommended supplier for Lloyd's group SVB's cyberinsurance product E-comprehensive.
The news comes as the software company launches Tripwire Insurance Services, a new subsidiary set up to attack the internet risks arena.
Tripwire chief executive Wyatt Starnes said: “Our partnership with Lloyd's reinforces the need for a risk management tool that measurably reduces the risk for underwriters and their clients.”
Under the deal, SVB will offer a 10% premium discount to all E-comprehensive customers when Tripware software is properly installed.
Starnes said the move will enable LLoyd's to “manage and control losses stemming from e-commerce risks”.
The E-comprehensive product protects against malicious and accidental acts which may cause substantial liabilities and loss to property assets, revenue generation and trade secrets.
According to a report conducted by the Computer Security Institute with the FBI in March 2000, 90% of respondents had been the victims of cybercrime, and 74% acknowledged financial losses due to security breaches.
Research by the business and technology news magazine InformationWeek in August 2000 claims the cost due to viruses and computer attacks was £161bn for US firms. Worldwide losses were estimated at £1.14 trillion.