QBE raises the curtain on new cyber product

Global insurer QBE Insurance has launched a new comprehensive cyber policy.

Called QCyberProtect, the product provides coverage for losses arising from network security, privacy liability, IT and non-IT business interruptions and reputational loss.

The policy is tailored for a range of organisations, from mid-sized companies to global corporations with large scale IT systems.

“Strategic investments in our cyber capabilities have strengthened our ability to shield our clients from the most pressing cyber threats,” QBE Insurance group chief executive Andrew Horton said.

“This offering highlights our commitment to delivering globally consistent and practical solutions that address the ever-evolving cyber risks our customers face around the world.”

Risk management support

Alongside the new policy, QBE Insurance has launched a new risk management tool called QCyberPrepare.

The tool enables cyber customers to launch an incident response plan after an attack.

The cyber policy is currently available in the UK, Australia, Hong Kong, Malaysia, the Netherlands, Singapore, Sweden, the United Arab Emirates (UAE), the United States (US) and Vietnam.

QBE Insurance stated it will launch the policy in additional countries throughout the year.

“QBE’s global cyber policy is supported by a network of highly skilled cyber experts and strategic partners to ensure world-class coverage and service,” QBE Insurance’s global head of cyber Serene Davis said.

“We are providing our customers with the comprehensive coverage and services they need to navigate end-to-end cybersecurity issues.”