The managing general agent’s flagship offering now covers physical and property damage – essentially bridging the gap between cyber and property policies. Aimed at businesses big or small, the product will provide protection against cyber-triggered physical damage brought about by the likes of malicious hacks and internal errors.
“This enhancement of CyberPro is an exciting development and very timely,” commented Ascent cyber head Caspar Stops, who joined at the end of November 2018 from Brit. “We are seeing a shift in the market where coverage for cyber as a peril must be affirmatively given or not given within all insurance policies, not just cyber ones.
“At the same time organisations are increasingly embedding technologies for business improvements and efficiencies, which has led to the creation of cyber physical systems throughout organisational infrastructures and the emerging risk this presents.”
The policy, which also covers debris removal, is part of the specialist MGA’s professional and non-tangible risks portfolio.
“CyberPro caters for a wide variety of network exposures, offering robust protection to insureds in areas of risk which the market has been slow to respond to,” added Stops. “It’s not a bolt-on cover, but bridges traditional physical-damage wordings with cyber cover in a highly effective, seamless integration of the two.”
