Fusion launches cyber product

Fusion Insurance has launched a cyber and data protection product which will be available to brokers through the MGA's ten trading offices. Fusion advised that the product is aimed at a wide range of commercial businesses and has a broad insuring clause, clear policy language and a range of limits from £100,000 to £5m. The MGA noted in a statement that data breach, business interruption, cyber extortion, third party privacy protection and hacker damage are included in the standard cover, with an option to extend cover for cybercrime and phone hacking. It is available as a standalone product or in conjunction with other financial lines products which will be launched in the coming months. Fusion also said that its claims service includes assistance from experts in breach forensics, extortion and hacker response. Capacity for the product is provided by Hiscox. Commercial lines underwriting chief executive David Bruce said, "As the UK's largest MGA, we at Fusion are delighted to develop our product suite to meet the evolving needs of businesses across the UK. Cyber threats are a growing concern for SMEs as more businesses trade online, hold customer data and use physical equipment connected to a network. When a cyber breach does occur, businesses need support that stretches far beyond financial compensation, and we are proud of the robust panel of experts that will help minimise the damage and get businesses back on their feet as soon as possible."