Polaris release new Cyber insurance Standard

Polaris worked closely with key insurer, broker and software house stakeholders to develop a data standard for Cyber business risks designed to support:

  • Individuals or organisations that wish to insure small to medium sized commercial businesses with an annual turnover of up to £50M.
  • Cover sections for both loss or damage to the businesses own data and third party compensation claims, with options including:
    o Privacy & Data Security Breach
    o Cyber Business Interruption
    o Cyber Extortion
    o Multimedia Liability
    o Digital Data Restoration/Replacement
    o Commercial Crime.

Polaris’s Development Manager Rakesh Krishnan stated:
We are very pleased to announce this latest expansion to our suite of Commercial Lines product Standards to provide our customers with what they need to compete in an increasingly competitive market. I’d like to personally extend my thanks to insurers, brokers and software houses who gave us their time and helped us to deliver this latest Standard.

To download the documentation for this Standard, please click here (login is required)