Canadian brokers have a new Cyber risk product to offer with Markel Canada’s unveiling today of coverage designed to address cyber threats and data security issues.

The specialist insurer designed the product to address cyber threats and data security issues, with the inclusion of cyber liability and first party coverages for data protection, cyber risk and network interruption.

“We know that cyber is a growth area and we want to continue to provide a solution to brokers and their clients and remove the barriers that prevent them from buying this type of insurance,” said Darlene Chin, assistant vice president, life science and information technology.

The product includes integrated claims response and a cyber risk helpline provided by NetDiligence and specialist solicitors Fasken Martineau.

Policyholders will have access both to NetDiligence’s eRiskHub, an online portal offering up to date information and templates and to the cyber response team at Fasken Martineau, including lawyers in every major Canadian centre, to provide expert legal and technical IT security guidance on a range of issues arising from cyber and data protection risks.

“Our product is simple, cost effective and provides a unique and supportive solution,” says Chin.

The company also offers a Privacy, Data Breach, and Electronic Risk (PDE) endorsement that can be sold in conjunction with other policies.