Chubb has introduced a comprehensive cyber solution for the Asia-Pacific region, starting with Australia, Hong Kong and Singapore.

It says the product goes beyond a simple policy, offering “end-to-end loss control and risk management”.

It aims to help clients understand what leads to cyber incidents and how to prevent them, and offers guidance on minimising losses and managing reputation after an attack, via a 24/7 incident response team.

Chubb Cyber Product Manager for Australia and New Zealand Andrew Taylor says the solution caters for large and small clients alike in the Australian market.

“The name – Cyber Enterprise Risk Management – underscores how cyber threats have become an enterprise-wide issue and not just a concern for IT departments of businesses,” he said. “In Australia, we’re seeing a steady increase in submission flow, buying habits and claims activity related to cyber.

“We will continue to build our capabilities and solutions to address the needs of clients in this evolving segment.”

Tim Stapleton, VP and Cyber Insurance Product Manager, Overseas General Insurance, says Chubb was a pioneer in the cyber-insurance market, offering its first product in 1998.

“With our experience in this field, we are well equipped to deliver truly global solutions to address the current and future cyber-risk challenges faced by various organisations, regardless of size, industry or location,” he said.