Markel Canada unveils offering to combat cyber, tech and fintech risks

Markel Insurance, the insurance operation within Markel Group, has introduced Canada 360, which includes three insurance policies for cyber, tech and fintech.

The new offerings, Cyber 360 Canada, Tech 360 Canada and Fintech 360 Canada, have been crafted to provide coverage tailored to the specific needs of clients in the cyber, technology and fintech sectors.

The Cyber 360 Canada policy is complemented by a range of pre-breach services, developed in collaboration with industry experts, to address threats and protect clients.

For the technology sector, Tech 360 Canada presents a modular primary insurance solution that allows clients to combine technology errors and omissions coverage with cyber coverage and management liability.

This integrated policy includes directors and officers, employment practices liability and fintech liability coverage.

Fintech 360 Canada is designed for fintech organisations, building on the established success of the Markel Fintech policy.

This customisable coverage encompasses cyber liability, management liability, theft and crime coverage, and fintech errors and omissions protection.

Markel Canada is collaborating with a network of expert service providers including breach coach service providers, forensic and data restoration companies and ransom negotiators.

The services are accessible around the clock, providing clients with the necessary support to navigate the complexities of cyber breaches.

Markel Canada cyber assistant vice-president Ed Rawe said: “We are thrilled to introduce our new suite of Canada 360 products. This launch reflects our commitment to understanding the dynamic needs of our clients and providing them with comprehensive solutions."

In June, Markel Insurance launched InsurtechRisk+, a new insurance product targeting insurtech businesses.

InsurtechRisk+ caters to companies domiciled in the UK, Europe, Australia, Asia and Canada, offering coverage with limits up to £10m ($13.49m).

"Markel Canada unveils offering to combat cyber, tech and fintech risks " was originally created and published by Life Insurance International, a GlobalData owned brand.

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