QBE Insurance has rolled out ‘QCyberProtect’, a globally consistent insurance coverage to help its clients combat cyber risks.
The policy will provide tailored coverage against losses from existing and future cyber risks to the company’s diverse clientele across the world.
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It is designed to address a variety of cyber risks, including privacy liability, network security breaches, and information technology (IT) and non-IT related business interruptions and reputational loss.
QCyberProtect aims to serve various types of organisations, from mid-sized businesses with outsourced IT departments to large multinational corporations with sophisticated IT infrastructures.
In conjunction with the insurance coverage, QBE has also introduced QCyberPrepare, a cyber-serveroom service.
This platform allows customers to activate their incident response plans in a secure environment, ensuring preparedness and control during cyber incidents.
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By GlobalDataThe new global cyber insurance coverage is initially available in ten countries, including Australia, Hong Kong, Malaysia, Singapore and the UK.
QBE has plans for a broader roll-out of QCyberProtect throughout this year.
According to QBE’s website, the new offering is customisable to meet the unique needs of each organisation, providing protection against various cyber risks.
To support its clients, the company has partnered with a panel of experts to deliver round-the-clock assistance in the event of a cyber incident, including forensic analysis, legal advice, and public relations (PR) management.
The expert panel includes ReSecure, which brings together the expertise of Kivu Consulting for forensics, Experian to handle credit / identify theft monitoring, RPC and Norton Rose for legal support, Clyde & Co.
It also includes STORM Guidance, Eurofins, and Verizon for IT Forensics as well as Mattison and FleishmanHillard for PR support.
QBE Insurance Group CEO Andrew Horton said: “Strategic investments in our cyber capabilities have strengthened our ability to shield our clients from the most pressing cyber threats.
“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.”
