Emergence’s cyber offering has undergone a revamp.
Aimed at broadening coverage in response to growing market need, the underwriting agency’s upgraded policy wording features preventive shutdown cover, system failure cover, privacy error cover, and expanded cyber extortion cover.
Benefits also span coverage for identity-theft response costs and payment card industry liability. Insured cyber events include crimeware, cyber espionage, denial of service, hacking, insider and privilege misuse, and web app attacks.
Meanwhile brokers can quote and bind criminal financial loss limits up to $250,000 via an enhanced broker portal, with higher limits available on referral to Emergence underwriters. Policyholders can get limits up to $20 million and excesses as low as $250.
“Cybercrime is huge,” asserted Emergence underwriting and product development head Jeff Gonlin. “It’s well organised and a sophisticated industry, and every business is vulnerable. Business owners need to be smart about how they operate – the decisions they make before they get attacked are vital.”
Gonlin added: “A key point of difference with Emergence is instant access to a response team of experts who understand the importance of immediately mitigating potential threats to insureds’ businesses.”
The specialist underwriting agency has round-the-clock incident response and claims handling teams based in Australia.
