Product will include business interruption and privacy related exposures that have resulted from a cyber attack.
The insurer has updated the policy to include standard cyber cover and cyber-crime and cyber online liability as additional covers.
Ida Axling and Siân Barton address the top news pieces over the past five days.
The insurance governance expert has called on brokers and insurers for a guarantee that eight particular policy flaws won’t be used as reasons for claims refusals after scaremongering row.
Insurer simplifies cyber policies and gives large organisations access to its in-house breach response team.
Which topics have been sparking brokers’ interest?
Michael Whitfield from CPP UK discusses why brokers should be moving cyber risk up the agenda for their SME customers.
Product is backed by Munich Re and designed for businesses of all sizes.
Brokerbility’s Ashwin Mistry considers how the recent row about the quality of cyber products could be interpreted by customers.
Too large to benefit from government initiatives but too small to employ their own risk managers, mid-market businesses can inadvertently find themselves taking on unexpected levels of risk. As these businesses grow and face new and increasingly complex…
Insurer focuses on middle market and multinational clients.
Regulator calls on providers to cover more ground on cyber in relation to risk management, risk appetite and strategy, and pledges to continue to keep cyber insurance underwriting risk under review.
Market “utterly perplexed” by report which accused some brokers of “scaremongering” to sell products and suggested some cover did not match the needs of companies.
Stay up to date with the latest people moves.
Consultancy Mactavish says cyber policies have “major flaws” and claims brokers and insurers use “scaremongering” tactics to make companies buy cover.
Document has 30 calls to action and 26 commitments.
Business interruption has been added along with cover for cybercrime.
The providers confirm they have not suffered a cyber breach in relation to this incident and Hiscox says that the information was originally stolen from a US law firm last year.
New solutions are provided in combination with cyber cover from Lloyd’s and are available for brokers to sell.
Report highlighted that UK cyber policyholders were two and half times more likely to file a claim than those in the US.
RSA and Aviva were the talk of the town amongst brokers in June as rumours swirled that Allianz was targeting a big UK acquisition. Swinton's sale also caught brokers attention along with hack day, which explored what brokers should do to stave off a…
It adds to its cyber proposition and is aimed at the broker channel.
The policy now covers losses from fraud, telephone hacking and ransom.
Regulator highlights 18% are cyber-related.