June 16, 2017 by Canadian Underwriter
Canadian managing general agent (MGA) ENCON Group Inc. announced on Thursday the introduction of a standalone cyber insurance policy that provides coverage for network business interruption, ecommerce trading exposure, crime and intellectual property risks.
Ottawa-based ENCON Group said in a press release that CyberPro is offered in association with Ascent Underwriting, a specialist MGA underwriting on behalf of several Lloyd’s syndicates. ENCON will offer the CyberPro policy to current and new insureds on a standalone basis or in conjunction with its professional liability and specialty insurance products.
Coverage is provided on a modular basis and available with limits from $250,000 up to $5 million. The release noted that companies can tailor their coverage based on their requirements by selecting from the following independent insuring agreements:
All policies are distributed by ENCON. Claims management, including full post breach response services, is provided by Ascent Underwriting and CyberScout (formerly IDT911). The CyberPro policy, offering through ENCON’s national network of independent brokers, also includes access to valuable learning tools through its pre- and post-breach risk management services.
“The cyber insurance market is maturing rapidly in Canada and organizations are more aware than ever of the serious impact a data breach can have on their business,” said Kevin Auger, vice president, special risk – technology with ENCON. “CyberPro offers a cutting edge solution that includes risk management services, a broad range of coverage options for clients of all sizes, and a robust approach to cyber breach response.”
ENCON offers professional liability, construction, environmental, and property and casualty insurance, as well as group and retiree benefits programs for individuals, professionals, organizations and businesses, which are available through a national network of licensed insurance brokers and plan advisors.