We use cookies to improve this site and enable full functionality. You can change your cookie settings at any time using your browser. Our cookie policy.

Covea enhances cyber product for HNW customers

Covea enhances cyber product for HNW customers | Insurance Business

Covea enhances cyber product for HNW customers

Cyber criminals are increasingly targeting high-net worth individuals – and that has prompted Covea Insurance to enhance its cyber offering.

Brokers can now access a refreshed executive plus product that includes home cyber cover up to £100,000 as standard, coupled with a host of increased limits and boosted cover options designed based on behavioural economics.

Covea noted that it spoke to its insurance brokers and identified increasing demand for specific cyber cover in the home on the back fears over potentially massive financial and reputational damage claims.

“HNW customers are early adopters of connected technologies, and with their vast financial resources, are fast becoming a target for cyber criminals seeking to take advantage of connected gadgets,” said Alison Colver (pictured), national HNW underwriting manager at Covea.

“Our brokers have told us that cyber is a key concern amongst their customers and we have developed a product in response that is designed to fully meet these emerging challenges.

Our customers can be sure of excellent cyber cover for a wide range of scenarios supported by experts in cyber loss and a market-leading claims proposition to ensure that if the worst does happen, we’ll be ready to help put it right quickly for the customer.”

The product will also cover losses associated with identity theft, cyber liability and cyber bullying.

Related stories:
Cyberattack hits art galleries, says specialty insurer
Cyber insurance deemed like “the Wild West”