1 min read: INSURANCE INFLUENCERS – RICHARD FINAN
Forging ahead to meet customers’ ever-changing needs The ancillary market has traditionally lagged behind...
Leading provider of specialist legal expenses and add-on insurance products, Arc Legal Assistance (Arc Legal), has launched a dedicated Personal Cyber Support policy providing household insurance customers with access to expert support, restoration services and cover for cyber-attacks.
The policy is designed to provide immediate assistance for individuals and families in the event of a cyber-attack on their personal electronic devices. The cover can be either embedded in an underlying home insurance policy or provided as part of a legal expenses insurance (LEI) policy. Cover is underwritten by AmTrust Europe.
The potential risk of a cyber-attack is evident when considering the level of internet and connected technology usage in the UK. The average number of internet-connected devices per household is now over eight and, according to the Office for National Statistics, nearly 42 million UK adults access the internet every day.
The Personal Cyber Support product provides crisis response and incident management cover, offering immediate assistance following a cyber-attack; as well as restoration cover to reinstate the customer’s devices to their original state before an attack and reimbursement of credit monitoring costs if the customer signs up to a monitoring facility.
Legal costs are also provided for disputes relating to personal identity fraud and social media defamation. 24/7 cyber support, legal and counselling helplines and online support services are also offered.
James Waddy, Commercial Development Manager of Arc Legal, said: “The growth of personal cyber products in the UK market has predominately focused on High Net Worth customers. We have developed an assistance-led, affordable option for a more general customer base that does not simply replicate these products but supports the customer to provide practical assistance and deal with the real risks they face.
James Waddy continued: “Personal Cyber Support is an important addition to our growing portfolio of assistance-based products and services. It further demonstrates our ability to design and develop relevant solutions that add value and respond directly to the needs of our clients and their customers.”