Aviva enhances its online Computer product

Authored by ARAG

We’ve made some changes to our online Computer solution via Fast Trade.

With cyber-attacks on the rise and the majority of UK consumers intending to continue to work from home for part of the week*, we’re updating our cover to reflect the evolving needs of your clients.

Cover change highlights

Responding to the emergence of homeworking, portable equipment like phones, cameras and printers are covered as standard and we’re including a homeworker clause that automatically covers equipment for up to £5,000 in any one period.We’ve introduced a new optional cover for Cyber – Virus, Hacking and Denial of Service Attacks. This cover replaces the Virus, Seek and Destroy Costs cover that’s provided in the Damage to Equipment section, Business Interruption and Reinstatement of Data sections. We now provide a set limit of £100,000.We’ve made the new Virus, Hacking and Denial of Service Attack cover now optional to provide you flexibility for those clients who already have standalone Cyber cover. 

These changes will take effect for New Business incepted on or after Monday 28 February 2022 and for renewals effective 10 April 2022 onward.

One policy wording, traded your way

We’ve also made some changes to make it easier to place this business with Aviva.

You can now access the same policy wording for on and offline, providing you the flexibility of how you trade Computer business with Aviva. And to make it easier for you and your clients to understand what they are and aren’t covered for the optional Virus, Hacking and Denial of Service Attack cover is now located in one section of the policy wording.

In addition, in-line with our other online Specialty Lines products, Commission Flexibility is available between 0 and 35%.

This isn’t a replacement for dedicated Cyber cover.

With Covid-19 leading to a rise in cyber related events, SMEs are understandably nervous about the risk that their businesses face. In fact, according to a recent GlobalData survey, 37.2% believe their cyber risk has increased since the pandemic*.

Last year, we launched a standalone Cyber product to respond to the emerging risks in the market, and the increasing need for businesses to have dedicated cyber protection.  

While we’ve made some enhancements to our online Computer solution today, this shouldn’t be seen as an alternative to having cover that’s specifically designed to help protect and respond to cyber-related events.

To help you and your clients understand how our new and improved Cyber product compares to their existing policy, you can use our helpful Cyber checklist.

For more information about our Cyber product and additional supporting resources, head to the dedicated page on Aviva Broker.

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