Canopius Group, an international specialty and property and casualty (P&C) re/insurance company, has launched a new cyber war product, offering businesses dedicated protection against the escalating threat of cyber war.
Cyber war has evolved to the point where it can shut down operations, compromise critical systems, and undermine financial resilience. As global tensions increasingly play out through digital channels, businesses are becoming more exposed to threats once reserved for governments and defence agencies.
Canopius’ new cover provides protection against state-sponsored attacks carried out as part of a physical conflict, as well as those that significantly impact a country’s operations regardless of whether a physical war has been declared.
The product marks a meaningful step in helping organisations build resilience against an increasingly volatile threat environment.
Coverage is currently available on a limited basis and can be purchased alongside a traditional cyber policy where Canopius acts as the lead primary insurer.
Camilla Walker, Head of Cyber and Technology UK, at Canopius, said, “Recent events have demonstrated how quickly regional conflict can escalate into widespread cyber disruption, with state aligned groups targeting commercial enterprises far removed from the physical front lines. We developed this product to provide clients with the option to extend their policies to include state-sponsored attacks that form part of a cyber or physical war. It reflects our commitment to staying ahead of emerging risks, however complex or unprecedented they may be.”
