The offering includes a post-binding cyber vulnerability scanning service, which scans the event organiser’s website for potential vulnerabilities. Credit: Artie Medvedev/Shutterstock.

Tokio Marine HCC – Specialty Group, part of the Tokio Marine HCC group, has unveiled a cyber extension to its event cancellation insurance product.  

The extension is designed to address the growing risk of malicious cyber actions that can disrupt events, offering comprehensive coverage and support services. 

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It is in response to the increasing demand for integrated event cancellation and cyber risk solutions.  

The new offering is available through both the company’s Lloyd’s syndicate and HCC International Insurance Company. 

The enhanced offering includes a post-binding cyber vulnerability scanning service, which scans the event organiser’s website for potential vulnerabilities that could lead to cyberattacks, providing actionable steps for remediation.  

The goal is to minimise the risk of cyber incidents that could lead to event cancellations. 

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Tokio Marine HCC – Specialty Group’s new cover is designed for global accessibility and includes protection against cyber threats up to 30 days before an event.  

It also grants policyholders access to a dedicated cyber incident response team, available 24/7 to support clients from the onset of a cyber incident. 

Tokio Marine HCC – Specialty Group international division head of contingency underwriting Neil Paddon said: “The risk of malicious cyberattacks has become an increasing concern to our clients and is one risk to which the market as a whole has struggled to react.  

“By extending our event cancellation offering to include malicious cyber coverage, we are addressing a clear gap in the market. We are committed to supporting the event sector and reinforcing our position as a leader and pioneer in this space.”  

Tokio Marine HCC is part of the Tokio Marine Group of Companies. 

Meanwhile, in July, Tokio Marine Kiln, a subsidiary of Tokio Marine, partnered with carbon credit insurance specialist Kita.  

This collaboration aims to offer political risk insurance to developers and investors in carbon credit projects, with a focus on mitigating political uncertainties impacting the sale and export of carbon credits. 

Additionally, in June, Tokio Marine HCC – Specialty Group appointed Shaun Russ as the head of London market, crisis management, further strengthening its crisis management capabilities.