AT&T and its subsidiary AT&T Insurance Agency have collaborated with Lockton Affinity and CNA to offer SME cyber insurance policies.
Dubbed CNA Epack Extra, the offering will cover business interruption and extra expense. Moreover, network security liability, privacy injury liability, data restoration, and network extortion costs are covered. In addition, privacy regulatory civil fines, privacy event costs, as well as penalties, are also in the mix.
In all these areas, the policy will cover costs ranging from $250,000 to $10m.
SME cyber insurance
AT&T said that the policy will enable its business customers to reduce, monitor and also transfer cyber risk, including broad cyber insurance options through CNA.
AT&T Business vice president of cybersecurity solutions Danessa Lambdin said: “AT&T Managed Cybersecurity Solutions provide superior cyber protection, which is recognised by insurance industry leaders.
“By offering our customers a combination of cybersecurity technologies and access to broad cyber insurance through CNA, we’re providing them with more options to help protect themselves and recover from cyber-attacks.”
The new proposition will be brokered through Lockton Affinity and also underwritten by CNA for AT&T Cybersecurity Solutions.
CNA director and industry leader for cyber Brian Robb said: “By offering this policy with small and mid-sized business needs in mind, CNA is able to provide the coverage they need at a price that recognises the managed cybersecurity controls they have proactively implemented.”