(Credit: Shutterstock)
RIA in a Box partnered with ProWriters and AssetSure to offer RIA firms centralized access to cybersecurity insurance to help protect advisors from financial losses in case of breaches.
Via the MyRIACompliance platform, RIA in a Box clients can access the ProWriters platform, which provides cyber insurance quotes from multiple carriers based on each RIA firm's individualized needs, RIA in a Box said Tuesday.
Featured insurance carriers include Axis, At-Bay, CFC, Chubb, Coalition, Corvus, Hiscox, HCC and Tokio Marine, RIA in a Box said.
After entering basic information, RIAs will receive a customized risk assessment report they can use when comparing insurance carriers' prices and features. The integration will decrease the time and effort needed to identify and understand the relative benefits of available cybersecurity insurance providers and plans, according to RIA in a Box.
ProWriters identifies recommended insurance carriers based on a firm's unique business needs and AssetSure then guides RIAs through the process of selecting a carrier, answering advisors' questions and securing coverage, RIA in a Box said. AssetSure also provides advisors with a client portal to access detailed plan information.
The announcement was made one year after the launch of RIA in a Box's cybersecurity platform that is integrated with MyRIACompliance, it noted. The MyRIACompliance cybersecurity platform enables RIAs to efficiently construct, implement and document a robust cybersecurity compliance program with a single solution.
RIA in a Box will host a webinar with ProWriters Thursday at 12 p.m.
SEC's FinHub to Host Virtual Meetups
The Securities and Exchange Commission's Strategic Hub for Innovation and Financial Technology (FinHub) launched virtual peer-to-peer meetups.
In 2019, FinHub engaged with fintech communities across the U.S. by hosting in-person meetups, the SEC noted. The meetups provided members of fintech communities with the chance to speak in person with FinHub staff at locations throughout the country to discuss general issues, specific questions or make presentations about their work, it said.
To facilitate ongoing communications amid the ongoing COVID-19 pandemic, FinHub decided to host a series of thematically based virtual P2P meetups over the next few months, it said. During each series, FinHub staff will meet virtually with innovators, entrepreneurs or firms that wish to discuss issues related to that series' theme.
The first theme planned is regulatory technology, the SEC said, noting financial services firms are "increasingly turning to technological innovation to strengthen and add efficiencies to their regulatory compliance programs," adding: "RegTech tools have the potential to enhance investor and market protections, and FinHub staff is inviting industry engagement concerning these technologies." The RegTech-focused virtual P2Ps will take place the week of July 6.
FinHub staff encourages anyone working on RegTech solutions or implementations to engage with FinHub as a part of the new initiative, it said. Dates and information concerning future virtual P2P meetup series will be available on the FinHub page.
