We're pleased to announce the upcoming launch of our new standalone Cyber Insurance solution on the Acturis platform, making it easier for brokers to access specialist cyber protection for SME and mid-market clients.
Developed using insight from brokers, customers, and Markel's specialist cyber expertise, the solution aims to address some of the challenges that have traditionally limited cyber insurance uptake.
Making cyber insurance easier to trade
Research and broker feedback have highlighted that cyber insurance can often be perceived as complex and difficult to explain, particularly for SME clients. Our new proposition has been built to simplify the process of understanding, placing, and selling cyber cover.
The solution supports businesses with turnover of up to £250 million across more than 3,400 trade categories and provides protection across four core areas: liability and legal covers, incident response and crisis management, business interruption, and crime and social engineering. In total, the proposition includes 42 coverages and extensions, representing a significant evolution of our existing cyber offering.
Additional enhanced cover features include Dependent Customer Business Interruption, Loss of Stock, Betterment, and Tender Disruption cover, helping businesses manage the broader financial consequences of cyber incidents, including lost revenue, disrupted trading, technology replacement costs, and missed commercial opportunities.
Support before, during, and after a cyber event
Alongside specialist insurance protection, customers will have access to a range of value-added services designed to support them before, during, and after a cyber event. These include pre-breach risk management tools, breach response support, crisis management services, legal and tax advice, regulatory compliance support, and access to our wider Business Hub proposition.
Commenting on the launch, Mark Lowther, Head of Technology & Cyber Underwriting at Markel UK said, "We've listened closely to brokers and built a proposition that addresses the barriers they face, helping them place business with confidence while giving customers access to meaningful support before, during, and after a cyber event."
Importantly, it is backed by the specialist expertise and high service standards that brokers have come to expect from Markel.
Simon De Ferry, Chief Insurance Products Officer at Acturis, added:
"We’re delighted to expand our partnership with Markel through the launch of its Cyber solution on the Acturis platform. Cyber risk remains one of the most significant challenges facing UK businesses, and Markel’s proposition combines comprehensive cover, practical support services and flexible digital trading, providing brokers with an important solution for SME and mid-market customers."
Expanding access through Acturis
The launch forms part of Markel's wider strategy to expand access to our specialist products through Acturis and support brokers in growing their cyber portfolios.