Our Cyber insurance provides protection against financial losses from stolen devices, phishing scams and spoof emails, and identity theft.
The cybercrime landscape is changing fast. Today individuals, not just businesses, face significant cyber threats. Financial losses from stolen devices, phishing scams and spoof emails, or identity theft can have crippling consequences.
Tokio Marine Kiln (TMK) provides personal lines cover and a suite of services to safeguard individuals at risk.
This product is designed for private individuals. It is a coverage enhancement structured either as a standalone cyber policy or an endorsement to an existing policy. Options for extended covers are also available.
TMK works with clients who have an established home-owners portfolio: either a coverholder with a delegated authority agreement or a cedant with a quota-share reinsurance treaty.
Established 24/7 incident response hotline
Cyber wording
Rating guidelines
Marketing materials for support and guidance
Informative website accessible by policyholders
Coverholder or Cedant commission
70%–90% quota share cession for treaty
Maximum limit
USD10,000–USD25,000
Retention
USD100–USD500
Limits up to USD1m are available for a standalone product.
Cover
Why
What it covers
Cyber attack
Viruses, adware, malware, trojans, botnets, worms. There are numerous ways computer systems can lose functionality.
The cost of restoring programs or replacing the device.
Ransomware
In the US alone there have been over 4,000 ransomware attacks every day since 2016. (Source: US Government report)
The ransom demand and any expenses incurred as a result of paying or mitigating the incident. The policyholder will have access to a team of experts to resolve the incident.
Identity theft
40% of global consumers have been targets of identity theft. (Source: Experian)
Investigatory costs such as obtaining and reviewing credit reports, placing fraud alerts and facilitating security freezes. The policy also covers payment for credit monitoring services.
Cyber crime
Predicted to reach $6 trillion in costs annually by 2021. (Source: CyberSecurity Ventures)
Payment of the charges incurred, funds transferred, and the costs of replacing personal documentation as a result of phishing scams or credit card fraud.
Smart devices attack
There were more than 100m cyber attacks globally on smart devices in the first half of 2019.(Source: Kaspersky)
Restoration of any smart devices that are compromised by a hacker, including smart speakers, appliances and watches.
Cyber bullying
Mobile platforms have made bullying easier to carry out.
Expert assistance in dealing with cyber bullying, including removal of malicious content and the cost of therapy sessions.
Home business extension
Home business set up is increasing.
Costs associated with data breaches, including third party liability, legal costs and fines and/or penalties from regulatory action.
Access to support website, which includes:
Since 2003, CyberScout has protected consumers, businesses and institutions alike against hackers, thieves, and human error. They provide solutions that deliver valuable identity fraud protection and education, proactive protection services as well as swift data incident response for their clients.
TMK has partnered with CyberScout to provide policyholders with proactive services to minimise the likelihood of a data breach and to provide expert assistance if one occurs.
Tokio Marine Kiln is a leading international insurer with a reputation for specialist underwriting excellence, great people and innovative products. As part of one of the largest insurance groups in the world, our underwriters are empowered to assess each individual risk, to make on-the-spot decisions and to find the right solutions for our clients’ needs. The ability to settle valid claims quickly and fairly in a human way is central to our business philosophy, and our adjusters are empowered to exercise their professional judgement to deliver an exceptional customer service.
Tokio Marine Kiln Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number: 204909. Registered office is located at 20 Fenchurch Street, London EC3M 3BY Registered Number: 729671. Tokio Marine Kiln is a trading name.