has launched a UK-first cyber and data risks cover to be embedded within home insurance products for high net worth (HNW) and mid net worth (MNW) customers.
The new offering, called Home Cyber, covers a range of exposures and incidents, including online fraud, home computer system damage, identity theft, telephone hacking, cyber ransom, social media defamation costs and product disparagement claims.
The cover will be embedded within Plum’s Premier and Amethyst all risks HNW and MNW policies. HSB Engineering Insurance will provide the underwriting capacity.
Explaining the reasons for the development of the product, Plum’s head of private clients, Emma Bennett, said that cyber criminals and fraudsters are increasingly targeting HNW and MNW individuals with sophisticated ransomware and cyber fraud attacks.
“Brokers have recognised this and are looking for dedicated cover and support for their private clients to address cyber exposures. Home Cyber directly responds to this demand,” Bennet said.
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