Tokio Marine Kiln has launched an enhanced cyber insurance policy designed to protect clients against the threat of physical damage stemming from cyber attacks.
The policy, Cyber Ctrl PD+, provides affirmative cover for property damage and ensuing business interruption arising from a cyber attack.
Cyber underwriter at TMK, Paul Gooch said: “As most cyber insurance policies exclude cover for property damage, and with property insurance policies increasingly incorporating cyber exclusions, many policyholders could be left with a gap in cover. Cyber Ctrl PD+ is designed to fill that gap, but it is not merely a ‘wrap’ or ‘write-back’ product. Rather it is an evolution of our established Cyber Ctrl policy, providing clarity and certainty of cover in the event of a cyber physical damage incident.”
With limits of up to US$25m, the new policy includes all standard cyber insurance coverages – including privacy liability and non-damage business interruption – and is modular.
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