Specialist Insurer Launches Tool To Help Boost Cyber Cover

Law360, London (August 12, 2019, 1:37 PM BST) -- A specialty insurer said Monday that it has developed a tool to help organizations assess their exposure to cyberrisk and allow them to seek appropriate insurance.

Ecclesiastical Insurance Group PLC, which covers nonprofit organizations, schools and churches, said it has developed a scenario planner to help companies in the education sector diagnose weaknesses in their systems and understand why insurance might be a wise investment.

The specialist insurer said that 38% of 250 brokers it interviewed in early 2019 had never sold cyber insurance because businesses do not understand the policies or see any need to buy one.

“The explosion in...

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