Arch Insurance International, part of Arch Capital Group and a provider of specialty insurance solutions across multiple lines, has launched its event cancellation cyber coverage.
This new coverage is offered as a cyber extension to an event cancellation policy, protecting against the cancelation, abandonment, curtailment, interruption, postponement, or relocation of an event due to an unauthorised, malicious, or criminal cyber act, or a computer system failure.
Protection also extends to third-party infrastructure, including the failure or interruption of communications and utilities.
To help event organisers to efficiently manage a cyber incident, the broad coverage includes access to security incident response consultants from specialist partners. These services encompass forensic investigation, legal counsel and public relations support.
Chris Rackliffe, Head of Contingency and Accident & Health, said: “This coverage was developed in response to the growing demand for cyber cover for events as the risk of malicious cyber activity facing event organisers rises.
“In an increasingly digital world, where the seamless operation of technology is vital to the success of events, a cyber incident can have significant financial and operational consequences. Our aim is to make the placement of complex events coverage quick and simple, which is why we have made this product accessible both on the open market and through Arch IQ.”
