Ensurance UK targets construction sector with cyber insurance offering
Ensurance UK Limited (Ensurance), the specialist construction MGA and Lloyd’s Coverholder, has been appointed as a distributor for a cyber insurance product backed by leading global specialty insurer Beazley.
The newly available cover is designed to minimise business disruption caused by a cyber-attack or data breach and enable construction firms to get back on their feet as quickly as possible following an incident.
The Department for Culture, Media and Sport’s 2017 cyber-security breaches survey reported that almost half (46 per cent) of all UK businesses surveyed identified at least one cyber-security breach or attack in the past 12 months, rising to two-thirds among medium-sized (66 per cent) and large companies (68 per cent).
Available to any policyholder responsible for handling customer data, the product will provide access to Beazley Breach Response, a comprehensive data breach response service, as well as coverage for first and third-party liability, cyber extortion, data protection loss and business interruption.
Ensurance UK CEO, Tim James said:
“As a specialist in construction, we understand the risks firms in this sector face with the data they hold and the potential impact on their business from any form of cyber security breach or attack.
“We have responded with a comprehensive product supported by Beazley that will offer flexibility on coverage and limits supported by excellent capacity.
“Most importantly the policy is supported by a dedicated team of experienced cyber breach professionals who assist policyholders at every stage of incident investigation and breach response. They co-ordinate the carefully vetted forensics experts and specialist lawyers to help establish what’s been compromised, assess responsibility, and notify those individuals affected. In addition, the support team manage credit or identity monitoring for customers and crisis communications.
“Beazley has been at the forefront of defending clients against claims arising from cyber breaches in a rapidly evolving legal environment.”