Everest Unveils Cyber Insurance Policy for Companies in All Industries

April 2, 2018

Everest Re Group, Ltd. has launched Everest Insurance Cyber Elevation Insurance Policy, which provides comprehensive cyber coverage and risk mitigation and remediation services to companies across all industry classes.

According to Everest’s Cyber Insurance Practice Leader, Kevin Sherry, Cyber Elevation provides immediate access to a suite of comprehensive services from qualified providers to assist insureds in responding to a cyberattack, while helping them build a resilient network to prevent future attacks.

Features include:

  • Risk improvement incentive reimbursements for a suite of services, such as the development, review and testing of an Incident Response Plan by service providers or an insured’s preferred vendors
  • Social Engineering coverage with reduced retention if a 24/7 hotline is called within 48 hours
  • Risk management incentives and reimbursements for implementing any recommended system improvements or software patches in the midst of a ransomware outbreak
  • Reputation Repair inclusive of ad spending, notifying the general public, and other costs
  • PCI Recertification Costs
  • Reduced waiting period for business interruption loss if triggered by a Distributed Denial of Service Attack (DDOS), such as attacks from multiple compromised systems that have previously caused disruptions on major internet platforms
  • 24/7 incident response hotline with privacy counsel including lower retentions for panel providers
  • Coverage for non-panel providers

Everest Re Group, Ltd. is a Bermuda holding company that operates through the following subsidiaries: Everest Reinsurance Company provides reinsurance to property and casualty insurers in both the U.S. and international markets. The company also operates within the Lloyd’s insurance market through Syndicate 2786.

Topics Cyber New Markets

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