Hiscox has expanded its cyber and data risk coverage to include Hiscox CyberClear. The product is designed for small and medium-sized enterprises in the U.S. with less than $1 billion in annual revenue.
This product will complement Hiscox’s existing Cyber Threat Protect, which came to market in October 2015. Cyber Threat Protect is designed for large businesses worldwide with over $1 billion in annual revenue. Both covers use straightforward language and a single insuring agreement driven by the loss itself and not the “how.”
“Hackers are becoming more sophisticated and are finding new ways to exploit and access sensitive information,” said Marcus Breese, Cyber & Professions Line Underwriter for Hiscox London Market. “Many companies believe they won’t fall victim to a breach, but virtually every company is at risk and must adequately prepare for these types of events.”
Hiscox USA provides a variety of specialty risk products including professional E&O, GL, cyber and data security, media liability, management liability, crime, kidnap & ransom, terrorism and commercial property insurance products.
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