Marsh adds business interruption cover to cyber policyReprints
Marsh L.L.C. said Thursday it is adding broad contingent business interruption coverage as one enhancement to its Cyber CAT 2.0 policy.
The business interruption coverage offers protection from losses caused by a cyber event at a policyholder’s supplier, receiver or service provider, Marsh said in a statement.
The new suite of enhancements also includes business interruption coverage specially aligned with traditional property insurance policies and new coverage for cyber data liability caused by a physical event, the broker said.
“We changed the property approach in the cyber policy … and layered on the cyber trigger as opposed to other physical triggers,” said Robert Parisi, New York-based managing director and cyber product leader for Marsh.
Marsh can offer limits of up to $750 million, with a self-insured retention as low as $1 million, according to a Marsh spokeswoman.
Marsh said it has also updated its cyber risk assessment and valuation offerings, with new modeling tools to quantify potential cyber business interruption losses.