OTORIO and HSB launch limited performance warranty

TEL AVIV, Israel and HARTFORD, CT – Cyber and digital risk management solutions provider OTORIO, and HSB, a specialty insurer, have announced a joint effort to raise awareness of operational technology (OT) security and risk reduction as crucial strategies for insurability.

For the launch of the collaboration, HSB and OTORIO have developed a limited performance warranty supporting the implementation of OTORIO’s OT security cyber risk management solutions into various business applications.

“Cyber events in OT settings can result in physical damage, operational disruptions, and safety hazards,” said John Riggs, HSB CTO & SVP Allied Technology Solutions, and President of Meshify.  “Improved preparedness, response, and recovery from disruptive events are critical for reducing OT risk, and this is where OTORIO excels.”

OTORIO said that the warranty covers OT equipment that is protected by the company’s Risk Assessment, Monitoring and Management (RAM²) platform or has undergone an OTORIO “spOT” risk assessment and has been optimized as recommended.

Within the agreement term, if a customer purchases the warranty and experiences failure from OTORIO products from either of the following scenarios, they can make a warranty claim for lost performance:

• Cyber Event on a Warrantied Operational Network: The customer suffers a cyber attack after implementing RAM² protection or following spOT assessment recommendations.
• Operational Network Damage as a Direct Result of OTORIO Operational Resilience Services: The customer experiences damage to its operational network due to RAM² deployment or spOT assessment.

"Businesses have suffered significant losses due to the ever-changing risk created by internet-connected OT equipment,” said Daniel Bren, Co-Founder and CEO, OTORIO. “By merging our technological prowess with HSB's engineering, technology, and insurance expertise, we are empowering businesses to navigate the complex landscape of cyber threats and safeguard their operational resilience, bolstering insurability and enabling a more secure digital future."

More information is available from either OTORIO.com or munichre.com.