QBE introducing cyber insurance product

QBE Insurance Group Ltd. Tuesday said it would offer QCyberProtect to provide global coverage for losses arising from current and emerging cyber risks.

Exposures covered include, but are not limited to, network security, privacy liability, IT and non-IT business interruptions and reputational loss, QBE said in a statement.

Limits available will be up to $10 million, according to an email from a spokesperson.

QCyberProtect is currently available in Australia, Hong Kong, Malaysia, Netherlands, Singapore, Sweden, UAE, United Kingdom, United States and Vietnam and will be launching in additional countries throughout the year, the statement said.

Alongside the coverage, QBE is also offering QCyberPrepare, a cyber saferoom where cyber customers can launch their incident response plan in a secure platform with secure messaging, the statement said.