Tech companies offer cyberinsurance guarantees

Trusona Insurance

Published in SCMagazine

...Trusona, which markets authentication software to large companies and government agencies, guarantees authentication on financial transactions such as wire transfers up to  $1 million per transaction.

Here's how it works: security managers can attach a uniquely-designed cryptographic hardware token that's also a card reader to a smartphone or any computing device. The chief financial officer or a person authorized to make large purchases then simply swipes a standard magstripe card through the card reader. Instead of focusing on the card's number, the device reads the molecular-level particles on the magstripe card.

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