November 05, 2018
Specialist managing general agency (MGA) and Lloyd’s coverholder Ensurance UK has entered the cyber market with an offering aimed at the construction sector, backed by Beazley.
Ensurance has been appointed as a distributor for the cyber insurance product, which is designed to minimise business disruption caused by a cyber-attack or data breach and facilitate faster recovery following an incident.
The firm stated that the cover will be available to any policyholder responsible for handling customer data, and will provide access to Beazley Breach Response, as well as coverage for first and third-party liability, cyber extortion, data protection loss and business interruption.
Ensurance UK CEO Tim James said: “As a specialist in construction, we understand the risks firms in this sector face with the data they hold and the potential impact on their business from any form of cyber security breach or attack.
“We have responded with a comprehensive product supported by Beazley that will offer flexibility on coverage and limits supported by excellent capacity.”
He added: “Most importantly the policy is supported by a dedicated team of experienced cyber breach professionals who assist policyholders at every stage of incident investigation and breach response. They coordinate the carefully vetted forensics experts and specialist lawyers to help establish what’s been compromised, assess responsibility, and notify those individuals affected. In addition, the support team manage credit or identity monitoring for customers and crisis communications.
“Beazley has been at the forefront of defending clients against claims arising from cyber breaches in a rapidly evolving legal environment.”