Pulse are excited to be partnering with QOMPLX:Underwriting to offer their unique WonderCover product to our clients.
WonderCover is a Cyber (1st and 3rd Party) and Terrorism cover, provided on a parametric basis, with none of the traditional loss adjusting. If an insured event occurs, our clients will receive a capital injection to quickly to help them maintain cashflow, without impacting pay outs or loss-adjusting processes for other covers they might also have.
This cover sits perfectly in between traditional Commercial Combined and Cyber products, and is designed for SME businesses.
With the Coronavirus pandemic dramatically increasing the number of business working remotely, cyber risks are becoming more and more evident for SMEs. Individuals and criminal groups are taking advantage of the confusion, and of the rapid transition to working from home, to try and steal data or money.
Benefits are available between £5k and £100k, with insured perils triggering as follows:
Cyber GDPR Breach – An incident involving personal data, requiring ICO notification under GDPR.
Cyber Service Outage – A third party used by the business having an outage (Microsoft 365, Amazon Web Services, etc.).
Terrorism Non-Damage Business Interruption – A terrorism event occurring in the same postcode zone as the insured.
Joe Balsom, Head of Specialty at Pulse said:
“It is great for us at Pulse to be offering yet another unique and relevant new product. This policy will provide real value for our clients and affords meaningful benefits that will assist them at their time of need.”
“Business value is no longer concentrated only in physical assets, nor are the dangers exclusively from physical perils. We protect the intangible value-at-risk that is an SME’s viability at a time of trouble, especially from cyber disruption. WonderCover provides insureds with much-needed peace of mind: they know they are covered simply, economically and quickly when disaster occurs.”