New MGA launches cyber offering

Boxx Insurance, a new MGA based in Toronto, has announced the launch of its flagship product: Cyberboxx.

Available exclusively through brokers, Cyberboxx “plugs the gap in technology and IT security resources for SMEs while simultaneously providing comprehensive cyber insurance coverage to help them respond and recover from a breach,” Boxx said in a news release.

“There’s been an explosion of cyber crime targeting SMEs and neither traditional cyber security [nor] insurance in isolation can deal with the new threat,” said Boxx CEO Vishal Kundi. “We’ve created a new type of company for a new type of risk.”

Cyberboxx is available exclusively through brokers. Policyholders can get a personalized Boxx score to see how they stack up against their peers in terms of cyber security.

“In addition to plugging the cyber skill gap for SMEs, Cyberboxx is bridging the cyber security trust barrier between business and insurers,” said Alister Campbell, chair of the Boxx Insurance advisory board. “I am convinced that this will enable Cyberboxx to redefine the way cyber risk is assessed, priced and purchased in the Canadian market.”

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This story was originally published by Canadian Insurance Top Broker.