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Chaucer Group, the global specialty re/insurance group, announced the launch of Vanguard, a comprehensive cyber risk management and insurance solution designed to protect organizations in the face of an evolving threat landscape.

This new primary business policy focuses on complex businesses across a broad spectrum of industry sectors, with available limits of up to $15 million for cyber liability and up to $30 million for cyber property damage.

In addition to this new primary wording, Chaucer is offering access to a panel of partner services that sit alongside the underwriting product, working in lockstep with leading providers to offer a suite of services that go beyond traditional coverage, including proactive defense, rapid response and strategic recovery. Those partners are Bitsight, BreachBits, CrowdStrike, DeNexus, Kennedys and Orpheus.

“As the cyber threat to companies continues to evolve and become increasingly complex, so does the need for appropriate and flexible risk transfer solutions. Through Vanguard, Chaucer helps organisations move beyond tick-box cyber compliance and hygiene fixes, towards solutions grounded in combatting real-world, emerging cyber risks,” commented Piers Tuggey, head of cyber, in a statement.

“This new policy form supports our increased focus and appetite for primary business across the globe, supported by our new team in Dubai and Chaucer’s other international hubs,” Tuggey said.

“BreachBits is proud to continue our innovation partnership with Chaucer by providing continuous cyber threat emulation and advanced red team testing for the Vanguard cyber insurance offering,” according to J. Foster Davis, COO at BreachBits.

“Vanguard focuses on industrial and infrastructure sectors with Lloyd’s worldwide reach – and this aligns with our goals of helping secure critical infrastructure and high-impact businesses. Innovative initiatives like this highlight where mature security practices are fully complimentary with both risk mitigation and risk transfer,” Davis added.

“This partnership represents a major leap forward in how industrial organizations can understand and manage their cyber risk exposure,” said Jose M. Seara, CEO, founder at DeNexus.

“By combining DeNexus’ evidence-based data-driven DeRISK CRQ (Cyber Risk Quantification) and DeRISK QVM (Quantified Vulnerability Management) suite of products with Chaucer’s underwriting expertise, we are enabling a new era of risk-informed decision-making and tailored insurance coverage for operators of physical critical infrastructure,” Seara continued.

Source: Chaucer Group

Topics Cyber New Markets