Ascent release cyber risk protection product

Ascent Underwriting, a managing general agent (MGA) specialising in emerging cyber risks, has introduced an enhanced cyber risk protection product.

Ascent’s CyberPro UK combines insurance, risk management and breach response solutions for UK brokers’ commercial clients ranging from micro businesses to international corporations across a broad range of industry sectors.

The product is offered on a modular basis and includes cyber risk protection with professional services cover.

In addition to professional liability coverage, the standard cover focuses on key and emerging areas of risk including losses arising from network extortion, phishing, social engineering, rogue employee action, programming and human error, electronic theft and fraud.

Ascent has said coverage extensions are available for business interruption and data restoration due to external vendor events, notification costs outside of policy limits, and the costs to cover payment card industry fines and penalties and general liability.

In partnership with Kroll, a risk mitigation and response provider, policyholders will have access to a response team for post breach crisis management assistance as well as a range of loss mitigation, education and training support to help policyholders to avoid or minimise breach events.

Ascent also extends a similar comprehensive coverage offering to small and medium-sized enterprises (SMEs) via a proprietary technology platform.

Gareth Tungatt, chief underwriting officer at Ascent, commented: “CyberPro is a proven product that enables the policyholder to pick and choose the elements of coverage required to meet their needs.

“Building on our experience in the US, UK brokers can access a comprehensive and innovative product that directly responds to the emerging risks and major threats their clients now face.”