Tokio Marine unveils new cyber insurance partnership

Specialty insurance group Tokio Marine HCC has partnered with CyberScout to provide cyber insurance, cyber education, identity management and resolution services to insurance carriers throughout the US.

CyberScout provides identity theft resolution, data defense and employee benefits services.

The partnership will allow homeowner insurance carriers to offer their policyholders a single, comprehensive personal cyber solution to protect their privacy, devices and finances from digital intrusion, fraud, harassment and extortion.

The programme also provides insurance coverage for cases of financial fraud, data recovery, extortion, cyber bullying and related legal expenses.

"When it comes to cybercrime, being insured is only part of the risk mitigation," said Matt Sherman, senior vice president of Tokio Marine HCC – cyber & professional lines group. "We are pleased to offer our clients a trusted suite of cybersecurity services and tools that minimize risks and cyber threats. CyberScout understands the important role of education and expert support and has a proven track record of solving complex issues for consumers. When paired with our personal cyber insurance coverage, we are offering something truly unique to the industry."

Jennifer Leuer, chief executive officer, CyberScout, said: "This strategic relationship brings together Tokio Marine HCC's industry-leading personal cyber insurance coverage with CyberScout's cyber protection and remediation services, which we continue to evolve to meet the changing threat landscape."

"Cyberattacks, email scams and online extortion events continue to grow as people become more reliant on mobile and smart home devices. This new offering assists homeowners with protecting their expanding attack surface and guarding against very real and costly threats," added Leuer.