Acturis unveils first SME cyber add-on product

Cyber crime

The provider has added HSB Engineering’s offering to its portfolio.

Acturis is expanding its e-trade capabilities with the development of its first cyber add-on product by HSB Engineering Insurance.

The software house stated that the launch sees HSB, part of Munich Re, become the first insurer to go live with the cyber add-on solution on the Acturis platform.

The cyber product follows the launch of the HSB suite of construction insurance products on Acturis last March.

Brokers can now quote and bind the HSB cyber add-on to other lines of business as an additional cover, alongside package policies.

The policy, aimed at SMEs, provides cover for:

  • Computer system damage and business interruption
  • Data-breach response
  • Cyber liability
  • Cyber crime

The HSB cyber add-on product will also soon be available on HSB Fast Track, the insurer’s broker online trading platform launched earlier this year.

Strategy
Paul Cullum, alternative distribution manager at HSB, commented: “HSB is known for its specialist underwriting expertise, which is why we are delighted to be leading the first release of a cyber add-on product offering on Acturis.

“The availability of our products on Acturis is an important part of our online distribution strategy and reflects our commitment to making engineering and technology products easy for brokers to trade electronically.”

Gregory Toothe, specialty lines product manager at Acturis, commented: “Working with HSB, we are delighted to expand the type of cyber offering available on the Acturis platform to include add-ons, not just stand alone.

“In the fast-moving cyber market, creating a standard coverage option as an add-on gives our brokers increased flexibility on what they are able to offer their clients.”

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