QBE Insurance Launches Global Cyber Coverage with QCyberProtect

Rhea-AI Summary

QBE Insurance, a global insurer operating in 27 countries, has launched QCyberProtect, a comprehensive and globally consistent cyber policy designed to enhance cyber resilience for clients worldwide. The policy covers losses from current and emerging cyber risks, including network security, privacy liability, IT and non-IT business interruptions, and reputational loss.

QCyberProtect caters to a range of organizations, from mid-sized companies to global corporations. Alongside the insurance coverage, QBE is implementing QCyberPrepare, a cyber saferoom for incident response planning. QCyberProtect is currently available in 10 countries, with plans to expand throughout the year.

Positive

• Launch of a comprehensive global cyber insurance policy (QCyberProtect)
• Implementation of QCyberPrepare, a risk management tool for cyber incident response
• Expansion of cyber insurance offerings to multiple countries

Negative

• None.

Backed by almost 140 years of insurance experience, QBE is focused on improving cyber resilience for clients with a singular, consistent cyber insurance offering across the globe

NEW YORK, July 16, 2024 /PRNewswire/ -- Today QBE Insurance, a global insurer operating in 27 countries, unveiled QCyberProtect, a comprehensive and globally consistent cyber policy designed to enhance cyber resilience for a broad range of clients worldwide.

QCyberProtect provides tailored coverage for losses arising from current and emerging cyber risks, including, but not limited to, network security, privacy liability, IT and non-IT business interruptions and reputational loss.

"Strategic investments in our cyber capabilities have strengthened our ability to shield our clients from the most pressing cyber threats," said Andrew Horton, Group CEO of QBE Insurance. "This offering highlights our commitment to delivering globally consistent and practical solutions that address the ever-evolving cyber risks our customers face around the world."

QCyberProtect provides cyber insurance for a range of organizations, from mid-sized companies relying on fully outsourced IT departments to global corporations with complex large-scale IT systems.

"QBE's global cyber policy is supported by a network of highly skilled cyber experts and strategic partners to ensure world-class coverage and service," said Serene Davis, QBE Global Head of Cyber. "We are providing our customers with the comprehensive coverage and services they need to navigate end-to-end cybersecurity issues."

Along with its global cyber insurance coverage, QBE is also implementing QCyberPrepare. Available in many locations around the world, QCyberPrepare is a cyber saferoom where cyber customers can launch their incident response plan in a secure platform with secure messaging. This risk management tool empowers organizations to be connected, confident and in control before, during and after a cyber crisis.

QCyberProtect is currently available in Australia, Hong Kong, Malaysia, Netherlands, Singapore, Sweden, UAE, United Kingdom, United States and Vietnam and will be launching in additional countries throughout the year.

For more information about QCyberProtect visit Cyber | QBE US. Contact your regional underwriter for more information regarding appetite.

About QBE North America

QBE North America is a global insurance leader helping customers solve unique risks, so they can stay focused on their future. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2023 of $7.6 billion. QBE Insurance Group's results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. Additional information can be found at qbe.com/us or follow QBE North America on LinkedIn, Facebook and Instagram.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/qbe-insurance-launches-global-cyber-coverage-with-qcyberprotect-302198091.html

SOURCE QBE North America

FAQ

What is QCyberProtect and when was it launched by QBE Insurance (QBIEY)?

QCyberProtect is a comprehensive global cyber insurance policy launched by QBE Insurance (QBIEY) on July 16, 2024. It provides coverage for various cyber risks, including network security, privacy liability, and business interruptions.

Which countries is QCyberProtect available in as of July 2024?

As of July 2024, QCyberProtect is available in Australia, Hong Kong, Malaysia, Netherlands, Singapore, Sweden, UAE, United Kingdom, United States, and Vietnam, with plans to launch in additional countries throughout the year.

What is QCyberPrepare and how does it complement QBE's (QBIEY) cyber insurance offering?

QCyberPrepare is a cyber saferoom implemented by QBE (QBIEY) to complement their cyber insurance offering. It provides a secure platform for customers to launch their incident response plan and manage cyber crises before, during, and after they occur.

What types of organizations does QBE's (QBIEY) QCyberProtect cater to?

QCyberProtect caters to a range of organizations, from mid-sized companies relying on fully outsourced IT departments to global corporations with complex large-scale IT systems.