R&Q Commercial Risk Services has launched a new cyber cover that aims to help small businesses combat online attacks and data breaches.
The cover includes first and third party liability expenses caused by data breach and crime, which remain as major threats to small and medium enterprises (SMEs) with their potentially significant damage to businesses, R&Q said.
“While the threats posed to businesses by cyber-attacks are well known, much of the cover available is targeted at the larger end of the market,” said James Wheddon, head of R&Q Commercial Risk Services.
“Often, these products are not suitable for SMEs, who are after something both simpler and more appropriately priced, but that can protect their business from a cyber-attack or data breach,” he added.
The insurance provider aims to support its broker base and their SME clients in managing their risk profiles by incorporating cyber cover as part of its commercial combined and package products.
“We will enable our panel of independent brokers to ensure that their clients are protected with this vital cover,” Wheddon said.
“Equally, it is critical that the independent broker community has access to the right cyber cover for their clients at the right price, something R&Q is now able to do.”
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