Proposal to transfer CGU insurance licence
October 28, 2016
We are pleased to announce eligible CGU Professional Indemnity (PI) and Information & Communication Technology (ICT) policy holders will have cyber cover as an extension to their policy for renewals effective 1 June 2016.
What is Cyber Cover extension?
Cyber cover extension is designed to protect your clients’ business against a number of different cyber attacks or events for a minimal fixed price and provides cover for:
- Privacy breach
- System damage
- Computer Virus & hacking
- Privacy Fines & Investigations
- Privacy Breach Notification & Loss
- Reward Expenses
Subject to the existing PI/ICT policy limit, the cover extension is subject to an overall aggregate sub-limit of $250,000.
How is Cyber Cover Extension applied?
Cyber Cover Extension will be automatically added to all qualifying PI & ICT renewals effective 1 June 2016. The renewal notices will come with a:
- Cyber Cover Extension overview flier
- Simple cyber cover addendum requiring critical vendors and number of client records to be supplied.
Is Cyber Cover extension available for new PI and ICT policies?
Yes, if you would like to take advantage of the new Cyber Cover Extension for new PI & ICT polices, contact your local PRI underwriter.
For a nominal premium increase, your eligible clients can rest assured they have access to the most competitive cyber cover extension available today.
If you would like more information about CGU Cyber Cover Extension, please contact your local PRI underwriter or Business Relationship Manager.