Tokio Marine HCC (TMHCC) – Specialty Group, part of the Tokio Marine HCC companies based in Houston, Texas, has announced the addition of a malicious cyber event extension to its cancellation product.

This enhancement is available through both its Lloyd’s syndicate and HCC International Insurance Company PLC.

TMHCC – Specialty Group’s event cancellation business is known for its robust capacity and expertise, and it has now expanded its services to include protection against malicious cyber attacks.

This new offering is in response to growing demand from brokers and clients for more comprehensive event cancellation coverage.

In addition to this coverage, policyholders gain access to a post-binding cyber vulnerability scanning service that assesses the event organiser’s website for potential weaknesses and provides guidance on remediation.

Designed with simplicity in mind, the new product replaces the traditionally complex and technical requirements of the cyber market with a brief questionnaire.

The coverage is available globally and includes protection against cyber events up to 30 days before an event. It also provides 24/7 access to a cyber incident response team from the moment an incident is detected.

Neil Paddon, Head of Contingency Underwriting at Tokio Marine HCC – Specialty Group’s International division, added: “The risk of malicious cyber attacks has become an increasing concern to our clients and is one risk to which the market as a whole has struggled to react.

“By extending our event cancellation offering to include malicious cyber coverage, we’re addressing a clear gap in the market. We are committed to supporting the event sector and reinforcing our position as a leader and pioneer in this space.”

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