QBE enters cyber space
QBE has become the latest insurer to unveil a cyber-risks related product with its new Cyber Response policy designed for UK businesses with a turnover of up to £100m.
QBE stated that Cyber Response would cover the first-party costs and third-party liabilities arising from cyber risk exposures, including cyber crime, data security breaches and associated regulatory actions.
The insurer claimed that as a bespoke product Cyber Response could be tailored to meet a client's insurance needs including for first-party cover for business interruption losses, brand and reputation protection damage, data breach notification requirements and cyber extortion monies.
It
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