Tokio Marine Kiln (TMK), the Lloyd’s specialist insurance, announced the launch of its enhanced “Cyber Ctrl” cyber product suite.
This cyber risk solution features new products and words, including Professional Ctrl for technology, media
and errors & omissions (E&O), as well as numerous enhancements to TMK’s flagship cyber product, Cyber Ctrl.
New insuring agreements have been added as standard, and established
ral exclusions have been removed. The products offer pre-emptive, responsive, and adaptive cyber risk management
alongside proven incident response capabilities, TMK said.
TMK said the new offering will underpin its broader risk appetite across cyber and technology, media a
nd E&O as the insurer “seeks to bring new premium into Lloyd’s and cement its status as a lead market.”
The enhancements to TMK’s offering include:
Comprehensive business interruption language covering both gross earnings loss and extra expense for own-net
work interruptions as well as IT and non-IT provider interruptions from security restrictions, system failures and
voluntary shutdown as standard. No cap on extra expenses to get your business up and running. No ambiguity around wh
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en systems are restored; TMK offers a flat indemnity period without caveats.
Crime coverage th
at keeps up with the times, including invoice manipulation, funds transfer fraud, social engineering, cryptojacking and
telecommunications phreaking as standard with endorsements availabl
to cover LLM hijacking.
Affirmative security upgrade costs coverage as standard.
Stock spoilage added to Cyber Ctrl PD+ property damage product.
Artificial intelligence coverages available by endorsement, including AI regulatory proceedings cover, data contamina
tion, LLM hijacking and, available through its new Professional Ctrl product; affirmative technology E&O coverage for AI services.
Fewer exclusions: Removal of betterment, insolvency and bankruptcy, illegal software, management liability, hardware replacement, and price description.
The comprehensive Cyber Ctrl suite offers cover tailored for a range of sectors’ needs, and includes:
Cyber Ctrl: Enhanced cyber insurance with integrated proactive risk management,
Cyber Ctrl PD+: Enhanced cyber insurance with physical damage protection and integrated risk management,
Professional Ctrl: New combined cyber and technology, media and E&O coverage under one policy,
Sector-specific endorsements for construction, manufacturing, real estate; technology and utilities.
“The cyber threat has evolved and so too must the insurance response. Over the past few months, we have modernized every aspect of our offering to ensure that it is fit for today's cyber risk landscape,” commented Laila Khudairi, departmental head Cyber & Enterprise Risk at TMK. “Our enhanced Cyber Ctrl suite is the result.”