Swiss insurer Zurich Insurance Group has announced that it is including network security monitoring and pre-breach services in its cyber insurance proposition – an industry-first, the insurer claims – as part of a new global offering.
The augmented policy, which will still provide standard coverages such as breach cost, business income loss and dependent business income loss, will now include a number of coverages that were previously only available via endorsements, providing customers with access to protection against true 21st Century challenges such as social engineering and reputational damage, as well as general data protection regulation (GDPR) and the associated fines and penalties that can result in lax enforcement. Policyholders will also have the opportunity to enjoy 24/7 network security monitoring and vulnerability management service provision from ZenOpz, a company offering information security and technological support to small and medium-sized businesses.
“Cyber risks continue to be one of the biggest issues,” commented Zurich’s EMEA Head of Cyber Liability Mark Bannon. “It is therefore vital that Zurich continues to be at the forefront of this critical issue. We’re driving innovation with our new enhanced cyber insurance and cyber risk services, offering to bring resilience and certainty to our customers in the face of the evolving cyber threat.”