Brit beefs up cyber proposition

The Brit Cyber Attack Plus (BCAP) offering is now stronger than ever.

Launched more than half a decade ago, the pioneering product is now packed with new features, including increased limits. The proposition is the combination of first and third-party cyber coverage and protection against physical damage and business interruption brought about by cyberattacks.

Now, with BCAP substantially built out, it features physical damage cover alongside business interruption, data privacy, and cyber liability coverage with limits of as much as $150 million. Limits of up to $100 million for stand-alone, non-physical damage cyber coverage are now also available.

Write-back optionality for certain industry sectors is offered as well. Meanwhile other benefits include extensive risk management training tools and access to experts such as lawyers and IT and forensic specialists.

“We are excited to launch the new features and increased sophistications of our BCAP product,” commented class underwriter Ben Maidment. “We were proud to be innovators when bringing it to market as an industry-first, and have continued to develop and improve our offering to ensure we can protect clients from all aspects of the cyber threat.

“Today, this product is more relevant than ever. Hackers are seeing increasing success in targeting organisations of all sizes and using an attack to alter chemical mixes or take control of machinery is well within their capability. It is essential that brokers and their clients understand the inherent cyber risk from such events and ensure that any property damage from a cyber incident is fully covered.”

The Brit executive also described BCAP as a “compelling solution,” given its further flexibility. Individual sectors, for instance, are afforded tailor-made coverage.

“In addition to the full BCAP product, we can now provide the highest limits available globally for stand-alone cyber liability for those that need it,” noted Maidment. “Brit is committed to remaining at the forefront of innovation as the threat of cyber continues to amplify and evolve.”