Bridging the cyber resource gap: Zurich North America’s new cyber insurance offering

Zurich North America, a seasoned provider of cyber risk solutions, has launched a unique cyber insurance product tailored specifically to cater to the needs of middle market businesses. The company, a leading provider of insurance solutions and services to various industries including agriculture to technology, forms part of the globally-renowned Zurich Insurance Group.

In the backdrop of a cyber resource gap impacting middle market companies, Zurich North America has introduced the Cyber Insurance Policy Concierge Suite. This suite is designed not only to offer cyber insurance coverage, but it also extends loss-prevention and resilience services such as a breach coach and a 24/7 cybersecurity hotline.

Zurich North America specialises in offering a wide range of insurance solutions to both businesses and individuals. For over a decade, the company has been at the forefront of providing cyber risk solutions. Now, the latest cyber insurance offering marks a strategic move in further enhancing their product portfolio.

The Zurich Cyber Concierge Suite serves a dual role. It helps businesses handle both first-party cyber events and third-party claims. The Cyber Concierge can be integrated with a company’s existing property or casualty coverages with Zurich, creating a comprehensive insurance solution.

Additional product details reveal the admitted status of Cyber Concierge in 46 states, meaning regional brokers can offer the solution without needing a special license. This removes a barrier to accessing cyber coverage in the middle market space. Policy purchasers are entitled to a complimentary onboarding session with Zurich Resilience Solutions’ Cyber Risk Engineers, who can guide on preventing and recovering from losses.

Zurich North America Head of Professional Liability and Cyber Michelle Chia said, “Many middle market companies have been caught in a cyber resource gap. They do not have the extensive cybersecurity teams and tools that larger corporations do, and yet face equally serious cyber risks. We designed Zurich Cyber Concierge to be a turnkey solution that provides cost-effective protection and high-quality services. The goal is to help simplify and enhance cyber resilience for the middle market segment, which is a growing and vital driver of the economy.”

Head of Middle Market at Zurich North America Alex Wells said, “Many middle market companies tell us they want to improve their cyber posture but lack the staff, skill sets or access to cost-effective tools. Cyber Concierge is here to help. In the unfortunate event of an attack, customers with the Cyber Concierge Suite don’t have to scramble to find reliable incident response services or worry about being gouged on price. Incident response and recovery and other essential services are built into this holistic solution.”

For more details on Cyber Concierge, middle market companies are advised to contact their broker or visit the Zurich Cyber webpage.

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