New Zealand-based Delta Insurance Group has signed a European marketing and distribution agreement for its Personal Cyber Insurance product with the UK’s Prospect Insurance Brokers.

The product, which protects individuals against risks such as ransomware and data loss, launched in the New Zealand market earlier this year and is available in Asia through Delta’s Singapore office.

Delta Chairman and MD Ian Pollard says Personal Cyber may also be released in the United States in the future

“There was already a significant growth in risk to people in their homes from cyber- criminals and that has soared since COVID-19 arrived,” he says. “We are also very hopeful of expansion into North America through Prospect’s parent company Costero.”

Prospect, which was acquired by private London-based brokerage Costero Brokers in August, has recently focused on innovative developments in cyber, cryptocurrency, gig economy, drones and parametric structures.