ENCON Group releases stand-alone cyber insurance

The product is underwritten by Ascent Underwriting with coverage up to $5 million

 Managing general agent ENCON Group Inc. is launching a stand-alone cyber insurance product called CyberPro that provides coverage of up to $5 million.

The policy, which is offered in partnership with Ascent Underwriting, will cover network business interruption, e-commerce trading exposures, crime and intellectual property risks. Ascent, a specialist managing general agent, is underwriting on behalf of several Lloyd’s syndicates.

“The cyber insurance market is maturing rapidly in Canada and organizations are more aware than ever of the serious impact a data breach can have on their business,” says Kevin Auger, vice president, special risk, technology at ENCON, in a press release.

ENCON will offer the CyberPro Insurance policy to current and new clients on a stand-alone basis or in conjunction with its professional liability and specialty insurance products. Coverage will be provided on a modular basis, and can be tailored for companies’ needs. The amount of available coverage ranges from $250,000 to $5 million.

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