Emergence has updated its policy to restrict its exclusion for cyber terrorism events.
Jeff Gonlin, Head of Underwriting & Product Development, said: “We’ve listened to brokers and changed our position to ensure cover is available.”
The cyber event protection policy has been amended so the terrorism exclusion will not apply to cyber events.
Cyber events include crimeware, cyber espionage, cyber extortion, denial of service, distributed denial of service, hacking, payment card skimming, point-of-sale intrusion, web app attacks, cyber theft, or telephone phreaking perpetrated against insureds.
Emergence’s decision to revise its exclusion demonstrates that the agency has the ability to move quickly to assist brokers and their clients. “Rapid response to market perceptions is important to Emergence,” Jeff said.
“We wanted to clearly articulate what our terrorism exclusion will not apply to and provide certainty for brokers and their clients that Emergence will respond to cyber terrorism events.”
Emergence is a pioneer of cyber cover in Australia and provides protection for SMEs through to ASX-listed entities.
Point of difference
A key point of difference for Emergence’s cyber offer is instant access to a response team of experts who understand the importance of immediately mitigating potential threats to insureds’ businesses.
Emergence’s incident response team is available 24/7 to manage claims, minimise threats, and support policyholders if a cyber event occurs.
The team includes IT investigators, forensic accountants, lawyers and public relations and crisis management consultants. Emergence has partnered with global cyber security expert Verizon to ensure clients get immediate and appropriate assistance when they need it.