Intangic MGA launches with Axa XL-backed cyber parametric policy

homomorphic

Intangic MGA has launched with backing from Axa XL, offering parametric cyber insurance for large public corporations headquartered in the UK.

The policy, CyFi, covers losses up to $15m (£12.5m) from material cyber breaches.

The London-based managing general agent detailed the insurance has two parametric triggers: the level of malicious activity targeting a company, and a subsequent loss in value. When both have been met the claim is paid, with the MGA putting the timeframe at “days, not months”.

Strengthen

According to the MGA, the triggers ensure all parties have a transparent dashboard for the real-time monitoring of risk

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

Lycetts buys broker Cheviot

Lycetts has strengthened its presence in the North East, purchasing fellow Newcastle-based broker Cheviot Insurance Services.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: