Commercial Insurer Re-boots UK SME Cyber Offering

Scale Up | Posted on: Friday 15 March, 2019
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Major commercial insurer QBE has launched a new offering into the UK and European SME market as part of a shake-up of its cyber-insurance products to reflect the evolving threat. QBE Business Insurance has been described as an “innovative e-trade product” designed to support SMEs as the cyberattack threats expands.

The firm pointed out that over half of the UK’s small and medium-sized firms have faced at least one cyber breach in the last 12 months – and now QBE Cybercrime has been launched on Acturis to help tackle that threat.

It includes cyber cover, crime cover and business interruption cover within one policy; cover for social engineering fraud to provide reassurances for the increasing risk of impersonation fraud; and 24hr specialist data breach support to get businesses back up and running.

“The SME sector is the backbone of the UK economy,” said Dave Greaves, head of SME at QBE. “At a time when businesses are facing an increasingly greater threat from cyber, exacerbated by the implementation of the GDPR, it is important that SMEs have insurance cover in place that is tailored to fit their needs and is straightforward for brokers to purchase on their behalf.”

For an in-depth resource on the cyber-threat in your particular industry, download the Verizon 2018 Data Breach Investigation Report.

Written By: James Ashwood | Friday 15 March, 2019

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