Markel adds cyber risks cover to business lines

Specialist insurer Markel UK has boosted its products with the addition of cyber risks cover.

The new cover, which includes both cyber liability and first party covers, for data protection, cyber risks and network interruption, will be available on all professional risks policies, in addition to the insurer’s social welfare, charity and community groups and biomedical and life sciences products.

Also included in the solution is an integrated claims response and a cyber risks helpline provided by specialist solicitors DAC Beachcroft and information security experts, Portcullis Computer Security, to assist with risk management.

Liam Greene, line manager of professional and financial risks at Markel UK, said: “Most organisations now appreciate that they face cyber threats every day, but there are still barriers to buying appropriate insurance so they often turn to IT providers to tackle the issue.

“With our new cyber solution, we are aiming to remove the barriers that prevent organisations from buying the cover they need. We’re making sure that the cover is simple and accessible for all of our policyholders, ensuring our product is cost-effective, so that the pricing truly reflects the risk, and providing a unique solution that includes a cyber risk helpline service and claims response."