SCOTTSDALE, Ariz., October 31, 2018 (Newswire.com) – Continuum GRC, a leader in the governance, risk and compliance (GRC) space and the developer of the IT Audit Machine (ITAM), the top-ranked GRC audit and assessment software solution, is pleased to announce its partnership with 360 Coverage Pros, a major program administrator and benefits provider administered by Gallagher, a global insurance brokerage, risk management and consulting services firm. The two companies have introduced a program for small and mid-sized federal contractors that allows them to purchase affordable packages that combine cyber and data breach insurance coverage with NIST 800-171 and DFARS compliance services.
“The increase in cyber-attacks on federal contractors, especially small businesses in the supply chain, is a growing concern of many departments of the federal government, such as the Department of Defense and the GSA,” states Scott Reid, National Director of Cyber Insurance Programs for 360 Coverage Pros. “Small to mid-sized federal contractors now have an easy way to get information and resources, and access affordable solutions.”
Through our partnership with 360 Coverage Pros/Gallagher Affinity, we are pleased to be able to offer significant discounts on NIST 800-171 and DFARS software modules powered by ITAM, the most advanced compliance automation software on the market.Michael Peters, CEO, Continuum GRC
The new packages, which are accessible through an easy-to-use online portal at www.Fed360Cyber.com, were designed to meet the specific needs of small to midsized federal contractors and offer:
- Affordable cyber liability and data breach insurance to help protect against the high costs associated with a data breach or other cyber-attack, such as expenses related to breach response, credit notification, forensic analysis, public relation consultants and cyber extortion. Premiums start at just $199/year and coverage includes access to a 24/7/365 rapid breach response hotline.
- Deeply discounted rates on NIST 800-171 and DFARS readiness assessment, custom policy suite and compliance audit software modules powered by ITAM. By integrating IT governance, policy management, risk management, compliance management, audit management and incident management, the cloud-based ITAM streamlines the initial compliance process and makes it easy for federal contractors to maintain compliance year-round.
“Depending on which agencies they work with, federal contractors must comply with NIST 800-171, DFARS, or both, and compliance must be continuous. This can be time-consuming and costly without an automated system in place. Manual processes such as spreadsheets cause unnecessary burdens and increase the likelihood of compliance failures,” explains Michael Peters, CEO of Continuum GRC. “Through our partnership with 360 Coverage Pros/Gallagher Affinity, we are pleased to be able to offer significant discounts on NIST 800-171 and DFARS software modules powered by ITAM, the most advanced compliance automation software on the market.”
“The impact of not being prepared for or taking steps to prevent a data breach or having cyber insurance in place to protect against loss can be devastating for a small to mid-sized federal contractor. It could not only cost them their contract but also take their entire business down,” adds Reid. “With these new cyber and data breach insurance options, along with compliance and prevention tools, federal contractors now have easy access to solutions that can help them manage their cyber risk, maintain cyber security best practices and mitigate the damage done to their business by a data breach.”
To participate in the program, an organization must be under contract with the federal government, as a sub to a prime or a prime in support of either or both the Department of Defense or non-DOD federal organizations. The cost of the cyber insurance plans and data breach support may be reimbursable by the government as a Security Assistance expense.
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