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Markel to launch standalone cyber insurance for UK SMEs
The new policy will be available on the Acturis platform and is designed for firms with up to £250 million in revenue, covering more than 3,400 trade categories.
Markel said it will launch this month a new standalone cyber insurance solution in the UK aimed at small and midsize enterprises.
The coverage will be available on the Acturis platform and is intended for businesses with revenue up to £250 million, spanning more than 3,400 trade categories.
The product is structured around four core areas, including liability and legal coverage, incident response and crisis management, business interruption, and crime and social engineering, according to Coverager.
Markel will use Verodat’s bordereaux platform to automate the collection, validation, and processing of data submitted by delegated partners, and the announcement also cited a partnership intended to expand Markel’s reach in California by incorporating Midwest’s data-driven approach to risk selection.