Ascent has launched an enhanced cyber risk protection product for UK brokers' commercial clients.
Ascent Underwriting, a specialist Managing General Agent (MGA) providing coverage for emerging cyber risks, has launched an enhanced cyber risk protection product combining insurance, risk management and breach response solutions for UK brokers’ commercial clients ranging from micro businesses to international corporations across a broad range of industry sectors.
Ascent’s CyberPro UK is offered on a modular basis and includes comprehensive cyber risk protection with professional services cover. In addition to professional liability coverage, the standard cover focuses on key and emerging areas of risk including losses arising from network extortion, phishing, social engineering, rogue employee action, programming and human error, electronic theft and fraud.
Coverage extensions are available for business interruption and data restoration due to external vendor events, notification costs outside of policy limits, the costs to cover payment card industry fines and penalties and general liability.
In partnership with the leading risk mitigation and response provider Kroll, policyholders will have access to a dedicated response team for post breach crisis management assistance as well as a range of loss mitigation, education and training support to help policyholders to avoid or minimize breach events.
Ascent can underwrite large risks on either a stand-alone or subscription basis and extends a similar comprehensive coverage offering to SMEs via a proprietary technology platform.
“ CyberPro is a proven product that enables the policyholder to pick and choose the elements of coverage required to meet their needs. Building on our experience in the US, UK brokers can access a comprehensive and innovative product that directly responds to the emerging risks and major threats their clients now face. ”Gareth Tungatt, CUO.