A comprehensive cyber insurance provided internationally and tailored to your company´s risk profile.
Allianz Global Corporate & Specialty has over a decade of experience in cyber insurance, protecting business against a wide range of IT-related threats. Adjusted to your company´s individual risk profile, Allianz Cyber Protect enables businesses to enjoy comprehensive protection against cyber-crime and other cyber-related incidents, be they internal or external, malicious or accidental.
Despite the rising level of cyber-crime and its sophistication, most businesses are not fully prepared to deal with the mounting cyber threat as many systematically underestimate the existing level of risk. AGCS has been underwriting cyber risks in one form or another for over a decade. In light of the growing complexity of business processes and IT systems, we have long recognized the need for companies to take a holistic approach to their cyber risk management, which extends beyond cyber insurance. Our approach is based on a thorough assessment of your company´s risks, exposures and culture, in short your IT maturity, combined with the appropriate level of cyber insurance coverage.
Minimize cyber-crime by assessing companies´ IT risk maturity
AGCS´s risk engineers, who are specialized in IT security, have developed an in-house methodology for evaluating companies´ IT risk maturity, taking into account all major elements of cyber security, resilience and the risk management approach. Assessing the maturity level is a key factor in the underwriting process, which enables AGCS to develop a holistic understanding of the clients´ preparedness and resilience. But whilst a strong risk management culture and IT security environment are essential for successful cyber risk management, they cannot guarantee 100% protection against cyber-crime. Companies should also consider cyber insurance as a viable solution for the remaining exposure.
Allianz Cyber Protect: Cyber insurance to fit your business needs
Allianz’s Cyber Protect is a suite of cyber insurance products where each policy offers a customized solution based on your company´s risk profile and specific needs. With a limit of indemnity of up to €100 million for the most sophisticated clients, Allianz Cyber Protect covers first-party loss such as business interruption, restoration and crisis communication costs and third-party loss, including cover for data breaches, network interruption and notification expenses; as well as regulatory costs associated with defense expenditures.
With coverage available around the world, Allianz Cyber Protect is currently underwritten by the AGCS teams in 13 major European markets, Asia and Canada.
Depending on your company´s IT risk profile and specific needs, you have a choice between three categories of product. Whilst Allianz Cyber Protect offers very broad coverage that can be purchased following a simple application procedure, bigger or more complex risks are insured under Allianz Cyber Protect Premium, which requires a more in-depth application process. For the most complex risks, we offer Allianz Cyber Protect Premium Plus, a bespoke solution tailored to the needs of the most sophisticated clients.
Allianz Cyber Protect - A broad and coherent protection plan
|Advantages||A broad scope of cyber and privacy coverages with clear and transparent wordings. Easy and quick underwriting process without requirement of a risk survey leading to speedy quotes and confirmation of cover for our clients.|
Allianz Cyber Protect Premium - Higher level of cover for more sophisticated risks
|Coverage||Superior coverage with additional protection such as extended business interruption|
|Advantages||Offers a higher level of cover subject to a risk dialogue with the client|
Allianz Cyber protect Premium Plus - A tailor-made solution built to match your specific requirements
A coverage composed on the basis of Allianz Cyber Protect to be tailored for the specific client´s demands.
Our cyber team will conduct a full joint assessment of your business systems and requirements. A gap analysis process will identify shortfalls in cover. We will then work with you to build a bespoke policy aligned with your business.
|Advantages||A flexible solution for the unique needs of the client.|
 In France, the name of our cyber insurance product is AGCS Cyber Data Protect