Re/insurer, Chubb UK has announced the launch of a new personal cyber product to protect individuals and their families.

Chubb’s Personal Cyber Insurance provides a range of protection and services not only to help mitigate risks and keep individuals safe online but also to offer action and practical support if they are victims of certain cyber-related incidents.

The proposition has four elements, one of which is the prevention through actively monitoring accounts, alerting customers to data breaches providing ongoing advice and training.

Another is having legal representation for cases of online bullying and harassment, along with being able to fix or replace infected devices and restoring lost or stolen digital content.

Reimbursement is also a key element as financial support for customers affected by cyber extortion is vital in protecting them.

The insurance will only be available through their partner businesses such as Financial Institutions, Retailers, Employee Benefits, Payment Providers or Mobile Network Operators.

Chris Eappariello, Executive Vice President, Specialty Personal Lines International, Chubb said: “We are delighted to be able to offer this new and innovative Personal Cyber Insurance policy for our partner businesses.

“Chubb has a long history of providing white label and branded solutions for some of the world’s leading brands. We also have more than 20 years of expertise in providing cyber protection to some of the biggest corporations, combined with extensive experience in delivering innovative insurance products to millions of consumers worldwide.

“Chubb’s Personal Cyber Insurance brings together that knowledge and those insights to help individuals to safeguard themselves and their families online.

“We all enjoy so many benefits from living in a digitally-driven age, but the internet can also be a haven for criminals and bullies whose actions can often have a devastating impact on their victims.

“Chubb’s Personal Cyber Insurance helps customers and their families be safer and also offers protection and practical solutions if they are targeted.” 

Source: Reinsurance News