HDI Global enters UK cyber market with Cyber+

Industrial insurance company HDI Global has entered the UK cyber market with the launch of a dedicated cyber breach response policy with a limit of up to €50 million, covering a broad range of industry sectors.

To drive the development of Cyber+, senior claims adjuster Peter Hawley has been promoted to become specialist cyber underwriter. He will be joined by long-serving property underwriter, James Stiff.

A majority of large organisations, about 90 percent, and 74 percent of SMEs have suffered a data breach attack lately, including the most recent on Tesco Bank.

HDI’s Cyber+ offers all businesses with financial protection against loss or damage caused by cyber attacks, covering the costs of defending the insured, carrying out forensic examinations to secure the breach, associated business interruption, credit card monitoring and defending clients’ reputations.

“Using my claims experience allied with a personal interest in cyber, this made the transition an obvious move. HDI is uniquely placed to really understand the ramifications of a breach for our clients and how to minimise the operational and financial impacts and, perhaps most importantly, severe reputational damage,” said Hawley.