Zurich Insurance rolled out new, industry-specific endorsements to its cyber insurance policy designed to expand coverages provided to the manufacturing industry. Brit Ltd. said it has launched an online platform for cyber risks in both the U.K. and the U.S., targeting small and medium-sized businesses in both regions.
Zurich Insurance rolled out new, industry-specific endorsements to its cyber insurance policy designed to expand coverages provided to the manufacturing industry.
The insurer said it created the endorsements in response to the growing threats posed to U.S. industrial firms by data breaches, ransomware and other cyber events.
Cyber exposures covered by Zurich’s manufacturing-specific endorsements include:
- Any components that are part of supervisory control and data acquisition systems (SCADA), programmable logic controllers (PLC) or other industrial control systems.
- Computer hardware, firmware, software and electronic data, as well as associated input and output devices utilized in manufacturers’ operational technology strategy.
- Computer peripheral devices, including wireless and mobile devices, which comprise a growing segment of manufacturers’ overall connected environment.
- Electronic backup facilities, including systems accessible through the Internet, intranets, extranets or virtual private networks, which manufacturers use as part of their cybersecurity defense protocol.
Brit Ltd., the London-based insurer, said it has launched an online platform for cyber risks in both the U.K. and the U.S., targeting small and medium-sized businesses in both regions.
The portal is designed to give brokers an agile, user-friendly outlet for Brit’s cyber underwriting capabilities, allowing them to quote and bind in minutes, entirely online, with a maximum of four question responses, according to a statement from Brit, which is a subsidiary of Fairfax Financial Holdings.
The portal is underpinned by Brit Cyber’s preventative risk management and breach response service with clients having access to extensive training modules, security trend updates and downloadable content aimed at helping businesses and their employees protect against an event. Brit said the launch of its e-trading portal is the next phase of the build-out for Brit Cyber Services, Brit’s global cyber offering.
Sources: Zurich, Brit Ltd.