QBE combines cyber insurance with risk prevention and post-breach services

Specialist insurer QBE North America, a part of the QBE Insurance Group, has enhanced its cyber insurance solution to include cyberattack prevention services as well as post-breach response assistance.

The new admitted form will now cover cyber liability; media liability for digital and electronic publication; data breach notification costs; asset rectification costs; regulatory defense and penalty costs; public relations fees; forensics; business interruption; and extortion and credit monitoring.

QBE will also offer data breach planning services, including best practices to follow in the event of a data breach and specific breach-focused responses, allowing risk managers to customise the response plan to suit the needs of their organisations. The product will also gives businesses the option to take a pre-breach cyber risk self-assessment to determine their current level of protection and what they need to do to strengthen it.

"This solution was truly developed with the business customer in mind," said Steven Anderson, vice president, vice president/product leader – cyber, QBE North America. "It's a paradigm shift from simply providing insurance to offering an integrated, holistic risk solution that helps improve the sustainability of our customers—making them more resilient to evolving cyber risks."

He added: "The impact of a cyber breach can be severe and long-lasting. We are very pleased to launch this solution, which provides valuable protection to businesses. By combining cyber insurance with risk prevention and post-breach services, we're able to help our customers reduce the likelihood and the impact of a cyber-attack."

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