Aspen Risk Management Limited [ARML] is launching a new range of covers to help companies protect against the emerging risks relating to computers, data and cyber-crime in partnership with two of the leading specialists in the market.
ARML in partnership with two leading specialist insurers, HSB Engineering, part of the Munich Re Group, and CFC Underwriting, an approved Lloyd’s cover holder, has responded to this growing need for companies to protect against the risks of computers, cyber-crime, data loss, privacy, virus, and hacking as well as exposure of material online.
Kevin Pallett, Managing Director of Aspen Risk Management Limited, comments: “Cyber-crime is a very real problem and the threat is growing as technology provides increasing access to businesses and more and more sensitive data is stored digitally.
He adds: “Data is arguably a company’s most valuable asset and yet the risks it faces in this respect are often misunderstood or overlooked. Developed alongside two of the leading specialist insurers in the market, our new covers for computers, data, cyber, privacy and media will provide the necessary protection for companies looking to address effectively their potential exposure in these critical areas.”
The new ARML covers address specific exposures associated with:
- Loss or damage to computer hardware, systems and portables [including laptops, smartphones and storage devices]
- Cyber terrorism and extortion
- Hacking, virus and denial of service [DoS] attacks
- Loss or corruption of data, especially personal data, and the requirements of the Data Protection Act
- Liability for breach of privacy, passing on viruses/malware etc.
- Defamation, breach of confidentiality, IPR or trademarks by online material
- Reputation and brand damage
These covers can be bought on a standalone basis and are also available to Business Insurance (Commercial Combined) policyholders.
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