This is an interesting bit of lateral thinking, because many events now are cancelled in the real world, after an attack in the virtual world. Here’s the word;
Arch Insurance International (Arch) today announced the launch of its event cancellation cyber coverage.
This coverage is available through both the London Market and Arch IQ®, Arch’s instant quote and bind platform.
Offered as a cyber extension to an event cancellation policy, the coverage protects against cancellation, abandonment, curtailment, interruption, postponement or relocation of an event resulting from an unauthorised, malicious or criminal cyber act, or computer system failure. It also covers third-party infrastructure, including the failure or interruption of communications and utilities.
To assist event organisers in managing a cyber incident efficiently, coverage is broad and includes access to security incident response consultants from specialist partners. These services encompass forensic investigation, legal counsel and public relations support.
Chris Rackliffe, Head of Contingency and Accident & Health, said: “This coverage was developed in response to the growing demand for cyber cover for events as the risk of malicious cyber activity facing event organisers rises. In an increasingly digital world, where the seamless operation of technology is vital to the success of events, a cyber incident can have significant financial and operational consequences. Our aim is to make the placement of complex events coverage quick and simple, which is why we have made this product accessible both on the open market and through Arch IQ.”
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