General Insurance Article - Marsh launch cyber risk and data breach insurance policy


Marsh launches its exclusive cyber risk and data breach insurance policy for mid to large-sized organisations, called Marsh CyberShield. Available globally to Marsh clients outside of the US, Marsh CyberShield can provide up to £500 million in cover for risks associated with cyber incidents and data breaches.

 Forming part of Marsh’s Cyber Assurance suite of cyber risk solutions, Marsh CyberShield is underwritten by a market-leading Lloyd’s of London syndicate. Marsh CyberShield’s clearly-articulated wording provides clients with access to 24/7, 365 days a year crisis response services, while allowing them a greater degree of flexibility by choosing only the coverage they require.

 As standard, Marsh CyberShield includes cover for:
 • Liability to third parties, defence costs and regulatory fines in relation to data breaches; breaches of data protection legislation, including the EU’s General Data Protection Regulation; breaches of confidentiality agreements; network hijacking; and virus transmissions.
 • Business interruption losses stemming from network interruption security failures, system failures, or operational errors.
 • ‘Content injury’ liability to third parties and defence costs associated with publishing, broadcasting and/or advertising activities, and website content and/or functionality.
 • Payment of extortion demands.
 • Payment card industry (PCI) data security standards fines and assessments.

 Commenting on the launch of Marsh CyberShield, David Arnold, Cyber, Media & Technology Risks Team Leader in Marsh’s Financial and Professional Practice, said: “From operational or system errors, to nation state hackers, hacktivists, and organised crime, businesses are now being subjected to an unrelenting onslaught of cyber risks. Marsh CyberShield can help form part of a robust risk management strategy to protect clients from increasingly stringent regulation and the financial and reputational fall-out of a cyber incident.”
 
 
 
  

Back to Index


Similar News to this Story

Smartphone users not protecting devices from cyber criminals
Research commissioned by Ecclesiastical, has revealed smartphone security complacency is leaving devices wide open to criminals, presenting an opportu
Initiative working for outcomes for long standing customers
?The industry initiative to help improve outcomes for long-standing customers launched two years ago is having a positive impact according to the revi
Canadian billion dollar hailstones
Aon launches the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurre

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.