While cyber insurance has become a necessity for most commercial clients, the personal lines space is a much harder sell. Sam Barrett investigates how brokers can reach this untapped market
As well as selling the benefits of cyber insurance to clients, brokers must show the way by being ready for any data breaches or cyber attacks. Sam Barrett reports
Consultancy says the UK insurance sector is on an “unsustainable trajectory” as it warns of a decline in broking and underwriting skills.
Product will be sold exclusively through Acturis, following CPP’s launch on the platform in October 2019.
Qomplx’s WonderCover product offers parametric cyber cover either as a standalone product or as an add-on.
Cyber liability has been added to the cover alongside a number of additional features.
Consultancy says that cyber elements of commercial property cover are increasingly being removed.
Provider partnered with HewardMills to develop the offering.
MGA says ThreatInformer's data enrichment technology will help it improve key activities in the underwriting process.
New offering is free for Bewica's brokers to use and assesses customers’ susceptibility to the top cyber risks that SMEs face including phishing attacks, password interception and website attacks.
Insurer says cyber attacks are increasing in frequency.
The proposition is aimed at small and medium sized business.
Andrew Alcock, COO at TH March, reviews the events of 2019 and Phil Bayles, CDO at Aviva, outlines what we can expect from the New Year.
Product offers 24/7 advice, incident investigation and restoration services in the event of a cyber attack.
Paul Beck, managing director of Direct Insurance Corporate Risks, reviews CPP Secure's Cyber Insurance for SME
Graeme Newman, chief innovation officer at CFC, said cyber risks are "still the same old risk, just presented in a new way".
Map ranks the severity of different industries’ exposures to business interruption, privacy, and cybercrime and includes a few examples of how these exposures can play out for various types of organisations.
Cyber Select offers breach prevention and management to businesses with turnover up to £350m.
The insurer said that the platform, targeted at SMEs, should enable brokers to quickly quote and bind, entirely online, with a maximum of four question responses.
The document has been developed to help brokers recommend the right cyber cover for their clients.
Data from SchemeServe has highlighted the best performing schemes in its inaugural Schemes Premium Index.
Product launched earlier this year also now includes cover for court attendance costs, service providers’ extensions and operational error.
Research from Marsh shows that in the UK & Ireland specifically, board members and C Suite executives only spend a few days a year looking at cyber risk.
GlobalData said growth was dependent on more households owning connected devices.