Thursday, June 20, 2024

CPP launches SME cyber insurance product to market

CPPGroup Plc (“CPP”) has today announced the launch of a new Cyber Insurance product in to the UK market, specifically designed to protect SMEs. The policy is offered by CPP Secure, the organisation’s UK insurance arm, and is available on the Acturis platform.

The Cyber Insurance policy is the first product launch by the UK business since its recent entry into the insurance broker market, following the acquisition of broker Business & Domestic Insurance Services.

More than half of malware attack victims are classed as small businesses. The new Cyber Insurance policy from CPP will provide affordable, accessible full cover to organisations with revenues up to £20 million. It also includes an extensive range of services such as direct access to a 24/7 helpline, free antivirus software, and cloud-hosted backup storage. Should an incident occur, the policy provides access to a specialist IT forensic company to investigate what data has been compromised. Public relations support will also be available to mitigate against any potential reputational damage.

The new product has been launched on the industry-specific Acturis platform, used by more than 20,000 insurers and brokers. It is available on the platform for stand-alone sale or as a product bought alongside other insurance.

Jason Walsh, Group CEO of CPP, commented:

“We are pleased to announce the launch of our new Cyber Insurance product in to the UK broker market. SME organisations are increasingly at risk of cyber threats, which, without the proper prevention and mitigation in place, can cause severe issues for businesses. Offering the Cyber Insurance policy on the Acturis platform gives us access to a large network of brokers that we can partner with to protect SMEs.”

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