Alliance Leverages Ridge Global’s Cyber Resiliency Solutions with Risk Cooperative’s Innovative Approach to Risk
Washington, D.C. (September 21, 2016) The growing scourge of cyber-attacks on public and private sector organizations calls for new approaches to enterprise resilience. Ridge Global, a global leader in helping organizations to decrease security risks, today announced a strategic partnership with Risk Cooperative. The combined capabilities are uniquely able to support customers in the design and delivery of turnkey solutions focused on enterprise-wide Risk, Readiness, and Resilience.
The partnership leverages Ridge Global’s integrated cyber resiliency suite, which encompasses breakthrough technologies, best-in-class cyber insurance, board-level governance and education, among other core services with Risk Cooperative’s national risk placement capabilities and insurance product innovations.
“Cyber resiliency is no longer the domain of IT professionals. It is now the central issue driving the duty of care of boards in both public and private institutions across the world, said Tom Ridge, Chairman of Ridge Global. “In a competitive market environment, it is rare to find partners that possess vision beyond the transactional and the ability to implement thoughtful solutions that integrate multiple disciplines and stakeholders. Risk Cooperative’s pioneering work in innovating insurance distribution channels and as a multiline national broker strongly aligns with our sense of urgency and clarity about cyber and other emerging risks,” added Governor Ridge.
The global cost of data breaches is projected to rise to $2.1 trillion by 2019 as the result of the rapid digitization of consumers’ lives and enterprise records, according to a report by Juniper Research. The increase reflects almost four times the estimated cost of breaches in 2015.
“Critically, cyber insurance can no longer live in a vacuum of undifferentiated providers. For organizations to gain reasonable assurance about their cyber readiness, a wide range of disciplines need to be brought to bear, including pre-breach technology, vulnerability assessments, insurance and other stop-gap measures including a responsive governance, public relations and remediation capability. In scanning the market, no one comes close to this gold standard like Ridge Global” shared Dante Disparte, Risk Cooperative’s founder and CEO.
About Ridge Global
Unlike natural disasters or other events that can disrupt your business, cyber-attacks occur every minute of every day in every industry. While the threat cannot be eliminated, Ridge Global can help you aggressively evaluate and manage your risk. We continually evaluate emerging tools to address evolving threats so you can be assured that you have access to the best and latest solutions. Ridge Global was founded by Tom Ridge, the first U.S. Secretary of Homeland Security and 43rd Governor of Pennsylvania, to help organizations decrease security risks. He has assembled a team of globally recognized experts who offer clients strategic counsel on identifying, preparing for and mitigating enterprise risk. To learn more visit www.ridgeglobal.com
About Risk Cooperative
Risk Cooperative is a specialized strategy, risk and capital management firm founded around the question “what would you do in a world without risk?” With this guiding principle, Risk Cooperative embraces the most pressing strategic questions around innovation and market expansion, helps organizations to minimize risk in the decision making process, and levels the playing field for small to mid-sized enterprises in the capital markets. Headquartered in Washington, D.C., alongside Ridge Global, Risk Cooperative merges the three disciplines of strategy, risk and investment to unlock value from risk. To learn more visit www.riskcooperative.com
Andres Franzetti, CRM
Chief Strategy Officer and Founding Member