Zurich has teamed up with Deutsche Telekom to launch a joint cyber insurance product aimed at medium-sized and industrial customers with revenues of between €100m and €2bn.
The product combines IT security services with real-time risk analysis and extended insurance cover.
Zurich contributes insurance design, claims support and risk assessment through its resilience unit. DeTeAssekuranz provides product design expertise and acts as broker, while Telekom Security delivers threat detection, prevention and rapid incident response through its MDR platforms.
“Since, in my opinion, there is no such thing as 100% technical security, supplementary insurance can be a sensible investment,” Telekom Security CEO Thomas Tschersich said.
A key feature is the option to secure extended cover for up to 36 months, designed to give more predictable pricing over the term of the policy.
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