Arch Insurance International, part of Arch Capital Group and a multi-disciplinary specialist insurance solutions provider, has launched event cancellation cyber insurance.
This new coverage is a cyber extension of the event cancellation policy and protects against events being canceled, abandoned, curtailed, interrupted, postponed or rescheduled due to unauthorized, malicious or criminal cyber conduct or computer system failure.
Protection also extends to third-party infrastructure, including communications and utility failures or disruptions.
To help event organizers manage cyber incidents effectively, the extensive coverage includes access to specialist partner security incident response consultants. These services include forensic investigations, legal advice and public relations support.
Chris Rackliffe, director of emergency and incident and health, said: “This policy has been developed amid growing demand for event cyber insurance as event organizers face rising risks of malicious cyber activity.
“In an increasingly digital world, where the seamless operation of technology is critical to event success, cyber incidents can have significant financial and operational consequences. Our aim is to make complex event coverage fast and simple, which is why we are offering this product on the open market and through Arch IQ.”
