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Arc Legal’s Cyber Support provides SME customers, with a turnover of £5m or less, with 24 hour access to expert advice following a security breach involving personal data. The insurance covers the cost of forensic and technical services to investigate and restore systems and helps the SME communicate with regulators and customers. Cover is also provided for the cost of certain financial damages, penalties and fines.
Cyber Support, developed as part of Arc Legal’s distribution partnership with Lorega, a UK MGA and assistance specialist, is one of a suite of new assistance products that the company now offer. Arc Legal already provides CETA Insurance with commercial, marine and static and touring caravan legal expenses insurance schemes.
“The recent global ‘WannaCry’ ransomware attack has highlighted the direct exposure SMEs face in the connected environment. Cyber Support responds directly to the needs of SMEs by limiting the impact of any damage or loss of data such an attack might cause.
“Working with CETA, we have been able to support their portfolio growth and provide their commercial insurance clients with access to expert assistance in an area of increasing risk. This expansion of our partnership with CETA also reflects our focus on providing responsive and relevant customer experience by offering a wider assistance service portfolio.”
“Arc Legal’s and Lorega’s understanding of the evolving needs of our commercial clients is evident in the development of Cyber Support. Being able to offer a service-orientated solution that helps to reduce exposure to financial losses and limits commercial and reputational damage is an important addition to our growing portfolio.”