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MANAMA: Bahrain Kuwait Insurance Company (gig Bahrain) has announced the revamp of its cyber insurance cover.
The insurer said its cyber insurance offering now includes first party cover and third party cover for financial losses due to e-crime and breach response support.
The first party cover is targeted at corporate clients for business interruption loss from security breach or system failure, cyber extortion loss, data recovery loss and network liability.
“Data has become one of the most important assets of any organisation and should also be protected from cyber attacks. Our product is redesigned to ensure that we provide our customers with the highest levels of protection against such risks,” commented Manoj Badoni, chief underwriting officer at BKIC.
“Moreover, the cover also provides protection for third party liability and legal liability which covers media liability, regulatory fines/penalties and payment card liability with adjoining associated legal defence costs. Most importantly in the event of an incident or loss, our local and international dedicated team of cyber professionals will provide you with legal services, computer forensic services, notification services to parties, call centre services, credit monitoring, identity monitoring, loss prevention solutions, public relations and crisis management expenses,” added Mr Badoni.
Emlyn Hoods, group head of specialty lines, said: “We are delighted and privileged to offer a first-rate SME cyber insurance product to our partners and clients in Bahrain and the wider Mena region. Our offering not only meets the needs and demands of the risk exposures faced by our commercial clients; particularly in Bahrain our SME cyber insurance product aims to satisfy regulatory compliance too.”
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