Cyber insurance solutions from UIB Nordic AB

UIBN Cyber, Media & Tech Risks

Following the exponential increase in global cyber-attacks and the growing sophistication of hackers in recent years, Cyber has moved from being viewed as purely an IT issue to a board level concern for companies of all sizes around the world. The devastating financial impacts suffered by organisations across all industries, combined with the increasingly stringent data protection and cyber security regulations being implemented across the globe, helps to explain why Cyber is the fastest growing line of insurance in the world.

The UIBN Cyber, Media & Tech Risks team works with clients from around the world on a daily basis and has developed close working relationships with both insurers and a range of cyber security specialists to assist an insured in their time of need and provide a range of additional services designed to improve the cyber risk profile of our clients. The Cyber, Media & Tech Risks team draws on many years of experience to identify and advise our clients on how to most effectively transfer their cyber risk exposures in line with their regulatory requirements and internal risk appetite.

Bespoke wordings

Given the lack of standardised wordings, exclusions and even definitions within the cyber insurance market, the UIBN Cyber, Media & Tech Risks team regularly work with insurers to devise bespoke product offerings, tailor-made to address the specific cyber exposures facing our clients.

Market Knowledge

The UIBN Cyber, Media & Tech Risks team has strong, long standing relationships with the leading London based and international cyber markets complimenting its excellent understanding of the reinsurance dynamics in the rapidly evolving field of Cyber Insurance.

Global Expertise

The UIBN Cyber, Media & Tech Risks team works closely with clients, underwriters and third-party cyber-security specialists globally to design, negotiate and package bespoke risk transfer solutions for clients in almost every industry sector. UIBN are uniquely placed in the Cyber market with the majority of our clients operating within South America, Asia and the MENA regions, rather than the traditional North American focused cyber teams. With new data protection and cyber security regulations being implemented around the world, our experience in these regions enables us to design purpose built solutions for organisations anywhere in the world, rather than push a one size fits all product.

Personal Client Service

Given the common misconceptions about what is and is not available from a cyber insurance policy, our team of Cyber experts work diligently with clients in order to correctly identify their key cyber exposures and advise as to the most effective means of transferring these risks. Our close relationships with third party cyber-security specialists, from IT incident response firms and leading cyber threat intelligence companies to Cyber legal experts, enable us to tailor a cyber product that not only provides peace of mind financially in the event of a loss, but also provides access to the tools and expertise required to improve a firm’s cyber security posture.

Competitive

We provide a comprehensive product offering and different insurance premium cost options designed to suit your changing requirements. The UIBN Cyber, Media & Tech Risks team has access to London and Global markets, having built up a strong reputation for reliability and integrity with clients and insurers alike. Our experience in placing some of the largest standalone cyber policies, enables us to negotiate favourable rates and coverage terms for our diverse portfolio of clients.

Private & Independently-owned

As an independent broker, we focus on generating long-term value for our clients by timely accessing global markets for local interests, by selecting and negotiating with suitable local Insurers and international Reinsurers, and by analysing and presenting offers from Insurers and Reinsurers. Being independent enables us to establish stable relationships with clients and market players through honest, informative and transparent communications, unbiased judgements, and constantly adopting a strong stance when defending our clients’ interests.

WHAT WE DO

The UIBN Cyber, Media & Tech Risks team are able to deliver tailored wordings and coverage to suit the risk exposures and needs to each individual client. With the growing expansive coverage and the lack of standardization within the cyber market we understand that it can be confusing, our team are here to help clients to assess what their risk profile looks like and ensure you feel confident when choosing the best policy for you.

UIBN have close relationships with leading specialist Cyber, Media & Tech Risks re/insurers in the London market who understand your whole portfolio needs protection. UIBN will seek to understand your requirements and provide Cyber coverage that compliments your current insurance portfolio.

Our product and services include

1<sup>st</sup> Party

Privacy Breach Costs – including forensic experts; customer/regulatory notification costs ; credit monitoring services ; call centre costs
Network (business) Interruption
Data restoration
Cyber Extortion
Cyber Crime
System Failure
Cyber Induced Physical Damage & Business Interruption
Contingent Business Interruption
Payment Card industry Data Security Standards (PCI DSS) cover
Crisis Communication Costs