Fusion Insurance, the MGA owned by broker
Towergate, is pushing into financial lines with a newly launched cyber and data product targeting a wide range of commercial businesses.
The company said the policy has a broad insuring clause, clear policy language and a range of limits from £100k to £5 million. The product is available to brokers across the UK from Fusion’s 10 trading offices.
Included in the standard cover are data breach, business interruption, cyber extortion, third party privacy protection and hacker damage. Cover can also be extended for cybercrime and phone hacking.
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The latest offering is available as a standalone product or in conjunction with other financial lines products which will be launched in coming months.
David Bruce, Fusion’s commercial lines underwriting chief executive, said that the company is developing its product suite to meet the evolving needs of businesses across the UK.
“When a cyber breach does occur, businesses need support that stretches far beyond financial compensation, and we are proud of the robust panel of experts that will help minimise the damage and get businesses back on their feet as soon as possible,” Bruce said.
The expert claims service includes assistance from experts in breach forensics, extortion and hacker response. Capacity for the product is provided by
Hiscox.
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