Cyber Risk Insurance from Delta-DynaRisk
Delta Insurance has partnered with DynaRisk to deliver a cyber-protection and insurance product for businesses in the Asia-Pacific region.
The cyber-risk product will be marketed from Delta Insurance’s New Zealand and Singapore offices as a cyber-risk solutions targeted at smaller enterprises.
McAfee reports that one-third of all global cyber-breaches occurred in East Asia and the Pacific Region amounting to $US200 billion in loss, and 90% of Asia-Pacific companies incurred some form of cyber-attack that year.
While cyber-insurance isn’t new, the combination of insurance and risk mitigation in the Asia-Pacific region is fairly rare.
Delta believes banks and telecommunications companies will be strongly attracted by the opportunity the product presents to minimise cyber-exposure for their customers, while insurance brokers will welcome a solution for the increasing number of clients suffering cyber-scams and fraud, <Quote> “DynaRisk helps the customer avoid losing sensitive information, photos and data, suffering fraudulent transactions or personal information theft, and being attacked by ransomware.”
DynaRisk founder and CEO Andrew Martin says,“We are thrilled to join with Delta and bundle our Cyber Security Score into consumer and small business policies. Together, we can now offer insureds a comprehensive prevention, monitoring and response solution backed by insurance.”