The Multinational Insurance Company Aviva has launched a new insurance product to help out small and medium-sized enterprises fight the risk of cyberattacks.
In the recent statement, the insurance company said that the recent insurance product offers a variety of cover for first-party, third-party, and reputational management costs. This product will provide additional risk management support, quick responses in the situation of a cybersecurity attack, and access to third-party experts.
The businesses with a turnover of up to £250 million and with indemnity limits varying between £25,000 to £5 million will suit the recent cover the most.
Brokers can gain access to cyber insurance through FastTrade, which is Aviva’s exclusive trading platform powered by Acturis. The new cover can be purchased separately or as a part of a set.
The new cover includes a rationalized question set, letting brokers get a quote in a short time. The policy is written in simple and clear language which makes the cover easy to understand for both the SME and brokers.
Neil Arklie, head of cyber insurance at Aviva said, “Cyber insurance has become an absolute must-have to defend the enterprises from cyber attacks and to make certain they have access to experts if a cybersecurity breach does happen.” Aviva’s team of risk management is also accessible to provide training on cybersecurity management to SMEs. Furthermore, brokers and their clients can gain access to a plethora of risk management resources and materials through Aviva’s risk management solution website.