Angel Risk Management launches enhanced cyber insurance solution

Angel Risk Management is announcing its enhanced cyber insurance solution with the option to add on a Cyber Crime extension covering social engineering, funds transfer and invoice manipulation losses. The product went live on Wednesday 1st November 2023 and is available online to registered brokers.

In today’s world, an organisation’s reliance on technology, secure storage and the processing of data is critical. The more dependent a business is on technology, the greater the potential impact of a cyber event. In collaboration with first response service provider Crawford, Angel’s enhanced solution provides insureds with a 24/7/365 response to a cyber incident or claim. Working with Angel Risk Management’s claims handlers, our appointed first response service provider Crawford will guide insured clients through each stage of a cyber incident from initial notification to investigation and containment, to restoration and closure of the incident.

This enhanced solution, which replaces Angel’s previous cyber offering, now allows registered brokers to add a cyber-crime extension to a cyber quote generated by its sophisticated and yet easy to use online quote and bind portal. The cyber-crime cover is available on a wide range of industries and underwritten exclusively based on statements of fact.

Also, part of the product enhancements is the waiver of the policy excess if an incident is notified within 72 hours of when the Insured first becomes aware of an actual or reasonably suspected data breach.

Lloyd Brown, Angel’s Underwriting Manager has been driving the enhanced solution forward in collaboration with AXA XL’s UK & Lloyd’s Cyber Team, “Keeping our products current and fresh is something that we strive for as we move forward and grow” he said. “The addition of a new cyber-crime endorsement to our cyber policy, coupled with the backing and support of our appointed first response service provider Crawford, a global cyber expert, will take our cyber product to the next level and fill a growing demand from our brokers for a cost-effective solution to their client’s cyber insurance needs.”

One of Angel’s driving forces is its commitment to innovation and strategic, profitable growth, it hopes that by launching this enhanced cyber insurance solution, these ambitions can continue to be recognised. Simon Martell, Head of Angel, added “The commitment of the Angel team to offer superior levels of service is one of the key elements of our success along with their unwavering support for our growing product range and whilst we continue to ask our brokers for their product requirements, we are also always on the lookout for new talent to join the team to deliver client focused solutions.”

Full details of Angel’s enhanced Cyber insurance solution, including a Cyber Crime endorsement are available on the product pages of their website HERE