Reinsurance News

Chubb releases new cyber cover policies

31st August 2017 - Author: Staff Writer

In response to increasing demand for cyber protection as threat of systemic cyber attacks grows, Chubb has released two new policy forms Cyber Enterprise Risk Management (Cyber ERM) and DigiTech® Enterprise Risk Management (DigiTech® ERM).

Cyber security imageThe new policies combine cyber cover with extensive loss mitigation and incident response services, to provide clients with an enterprise management solution for cyber risks; both policy forms are available in the wholesale and retail markets.

Michael Tanenbaum, Executive Vice President, Chubb, commented; “Chubb has more than 15 years of experience underwriting cyber exposures, and more than 30 years of experience handling technology-driven claims.

“During that time, we’ve catalogued a considerable amount of proprietary loss data that reinforces our approach to combating cyber risk through a three-pronged approach that incorporates risk transfer, loss mitigation services and incident response services.”

William Stewart, Division President of Chubb’s Global Cyber Risk Practice, added; “All organizations can benefit from this coverage, from the smallest businesses who can take advantage of the ability to quote and issue the policy via Chubb’s online portal, to the largest organizations with very customized needs.”


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