TMK launches Cyber Ctrl in Asia
Cyber Ctrl is a policy enhancement targeted at insurers in Asia...
Tokio Marine Kiln (TMK) has launched its flagship cyber product, Cyber Ctrl, in Asia.
The product covers a range of first party losses including business interruption and provides clients with crisis management support in the wake of a breach. Traditional liability covers to protect against breaches of third-party data are also included as standard.
The product is being marketed as a policy enhancement to small and medium sized enterprises, middle market and personal lines clients, and is targeted at insurers across Asia. The enhancement will be reinsured by TMK through its office in Singapore.
Alex Dugand, Regional Managing Director of TMK Asia, said: “TMK has been writing cyber risks since 2003 and we are thrilled to be bringing together our experience and expertise to address an exposure our clients are worried about here in Asia. The product will be underpinned in no small part by our market leading, locally based and empowered claims team. TMK has paid out more than $100m in cyber claims.
“Arrangements like this demonstrate our ability to meet the changing needs of clients in a bustling and growing market in which we see considerable opportunity.”