21 December 2016 Insurance

XL Catlin adds cyber cover in Europe and the Nordics

Re/insurer XL Catlin is enhancing its casualty insurance offering to include a cyber solution in Spain, Switzerland, Germany and the Nordic regions.

The new solution provides cyber cover to mid-sized and large companies for first party losses and third party liabilities, which means that the extension would cover the damages to customers and cost to the client of remedying the breach.

Companies can opt from the two solutions, Extension Cyber I offering a capacity of €1.5 million and Extension Cyber II with a capacity of €5 million, depending on their specific needs.

XL Catlin’s stand-alone Cyber & Data Protection policy is managed by its International Financial Lines team.

Daniel Maurer, chief underwriting officer of international casualty insurance, said: “Companies globally of all sizes are increasingly vulnerable to targeted cyber-attacks. The number of spear-phishing campaigns targeting employees, for instance, increased 55 percent in 2015.”

“With Extension Cyber I & II, we can now offer mid-sized and large clients in Spain, Switzerland, Germany and the Nordic region with a cyber coverage tailored to their particular needs.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk