© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Zurich Insurance Responds  to International Demand  for Comprehensive Cyber Policy
Posted 8th April 2015

Zurich Insurance Responds to International Demand for Comprehensive Cyber Policy

Zurich have launched their ‘Security and Privacy’ policy and ‘DigitalResolve’

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Zurich Insurance Responds to International Demand for Comprehensive Cyber Policy
Image

Zurich Insurance Responds to International Demand for Comprehensive Cyber Policy

Zurich have launched their ‘Security and Privacy’ policy and ‘DigitalResolve’, a cyber-protection policy and a global breach response service that will support companies facing cyber risks. 

It’s never been more important to protect a company’s balance sheets and reputations from cyber risk. Over the past decade we have seen an increase in the costs to organisations as a result of cybercrime and despite advances in cyber security it is clear the hacker is currently winning the battle. Therefore, to protect and help organisations get back to business following a breach, Zurich has developed ‘Security and Privacy‘ protection and ‘DigitalResolve’.
Zurich’s research highlighted that outside of the US global companies main cyber concern was their first party exposures as a result of a breach rather than their potential liabilities.

For this reason ‘Security and Privacy Protection’ coverage has been specifically developed to cover these first party exposures as well as cover for 3rd party liabilities and includes a new cover to provide loss of income following a data breach or damage to reputation.

‘Zurich Security and Privacy Protection’ also includes a global breach response service called ‘DigitalResolve’. Following a breach, Zurich clients will be provided with a single dedicated Incident Manager, with 24/7/365 availability to manage the resources needed to recover from a damaging cyber event. The ‘DigitalResolve’ team of global trusted expert providers, co-ordinate and triage the cyber-attack incident response from its first notification right through to its successful conclusion.

Jeremy Smith, Head of Technology, Security and Privacy at Zurich commented: “When we set out to develop a Security & Privacy Policy we were keen not to follow the status quo and look to provide cover and services that we believed matched our customer’s needs. Our experience showed us that the majority of cyber polices out there focused on Privacy and network security liability. Although the liability landscape is changing, so far we have not yet seen liabilities emanating out of data breaches.

“This is simply a feature of the US market place and holds little relevance here. On this basis historically the only really meaningful and transferable part of a data breach was privacy breach costs. After studying all the component costs of a data breach the major cost component that was not being transferred by insurance was the loss in revenue or customer churn following a data breach and this is what we are now looking to include. The other area that we were keen to develop was the breach response offering. DigitalResolve is a truly global end-to-end, integrated breach response solution involving an ecosystem of vendors to assist global organisations following a breach.”

Benedict Burke, Senior Vice President, Global Client Development at Crawford & Company comments: “This represents a stand out and compelling value proposition. The outputs will be the minimisation of the impact of a cyber-related event on Zurich customers’ business operations and brand reputation. It is Crawford’s intention to maintain a position at the forefront of innovation in claims solutions and our collaboration with Zurich on their Security and Privacy Protection product is the latest example of this.”

Gail Cook, Head of Financial Lines at Zurich UK concludes: “As cyber risks become increasingly frequent and severe, cyber insurance is playing an increasingly bigger part in a company’s overall risk management strategy. Buyers are now becoming increasingly more sophisticated looking for polices that not only cover them for data breaches but also for non-physical damage business interruption and reputational risk. I’m proud to be launching such an innovative insurance product which further demonstrates Zurich’s longstanding reputation for delivering robust, market leading insurance protections to the real economy.”

Categories: Finance, Legal


You Might Also Like
Read Full PostRead - Eye Icon
The Most Innovative UK Accountancy Firm 2016 Acquisition
Finance
04/05/2016The Most Innovative UK Accountancy Firm 2016 Acquisition

Formed as a start-up firm of chartered accountants, Aspen Waite has grown to become a recognised firm of business advisors.

Read Full PostRead - Eye Icon
Merkle Acquires Leading US Digital Agency
M&A
04/11/2016Merkle Acquires Leading US Digital Agency

Merkle, a leading technology-enabled, data-driven performance marketing agency, announced its acquisition of Salt Lake City based Axis41, a leading strategic digital agency focused on customer experience.

Read Full PostRead - Eye Icon
Global Company with a Homegrown Heart
Legal
16/02/2022Global Company with a Homegrown Heart

We take a closer look at ParrisWhittaker in light of it being named Most Outstanding Maritime Litigation Firm 2021 – Bahamas by Acquisition International magazine.

Read Full PostRead - Eye Icon
Investors: Act On ‘Double Edged Sword’ Strong Dollar Environment
Innovation
19/01/2015Investors: Act On ‘Double Edged Sword’ Strong Dollar Environment

Despite the Swiss Franc grabbing the headlines recently, the US dollar will continue to make gains over other major currencies in 2015, says deVere Group strategist

Read Full PostRead - Eye Icon
Empowering Individuals to Live a Life They Choose to Lead
Strategy
30/08/2019Empowering Individuals to Live a Life They Choose to Lead

Angel Heart Home Care provides support for vulnerable adults who are wanting to live independently within the community. Following their success in AI’s Global Excellence Awards 2019 where they were recognised as the Best Luxury Home Care Services Providers,

Read Full PostRead - Eye Icon
5 Different Aspects of Business Security That Are Often Overlooked (and How to Resolve These in Your Company)
News
11/12/20235 Different Aspects of Business Security That Are Often Overlooked (and How to Resolve These in Your Company)

Both digital and physical security concerns have to be taken into account, regardless of the size of your business or the industry you operate within. Yet there are all sorts of organizations that either unknowingly overlook or wilfully neglect these mission-c

Read Full PostRead - Eye Icon
Brum Costa: Specialists in Finance and Tax Law
Finance
12/01/2018Brum Costa: Specialists in Finance and Tax Law

Brum Costa Abogados specialises in customised consultancy services in management of financial risk and compliance, regulatory advice on banking and financial issues, tax compliance and prevention of money laundering.

Read Full PostRead - Eye Icon
Emerging Trends in Influencer Marketing Within Niche Markets
News
15/10/2024Emerging Trends in Influencer Marketing Within Niche Markets

The number of influencers rises yearly, primarily because microblogging and short-form platforms make it easy to pick up an account and start advertising.

Read Full PostRead - Eye Icon
Avia Solutions Group acquires Chapman Freeborn
M&A
15/10/2019Avia Solutions Group acquires Chapman Freeborn

via Solutions Group, a global multipurpose aviation holding company with 76 subsidiaries engaged in aircraft maintenance, ACMI, aircraft leasing, pilot training, ground handling and fuelling, logistics, aviation IT solutions and business aviation, has complete



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow