Superscript has announced a new partnership with CyberSmart to provide free cybersecurity insurance for small businesses that are moving towards ’embedded insurance.’
After a recent sharp rise in cyber attacks in the UK, a new framework called ‘Ransomware Task Force’ has been created, calling for further action. Upon completion of the government-backed ‘Cyber Essentials’ certification on CyberSmart’s website, small businesses can subscribe to Superscript’s specially developed cyber insurance almost instantly, without leaving the website. This is thanks to a real-time technological integration between Superscript and CyberSmart, automating the process to make holistic cyber security more accessible than ever before.
“With a significant uplift in cyber attacks recently, it is more important than ever that small businesses have cyber protection that gives them the confidence to grow,” said Henry Newby, Partnerships Director at Superscript. “Superscript’s partnership with CyberSmart does just this. CyberSmart is the prevention, while Superscript is the cure. You can have both.
“The partnership is an industry-defining moment in insurance. As technological capabilities improve, driven by insur-techs like Superscript, we will begin to see much more embedded insurance like this; making it easier than ever before for businesses to secure comprehensive coverage without any fuss.”
Superscript’s cyber product reportedly provides more extensive coverage for CyberSmart customers than was previously available, with a cover limit of up to £25,000. While it brings broader coverage in many already available areas such as media and advertising liabilities, it also brings extensive value and assurance. These include:
- Industry-leading 24/7 breach response service – does not erode the £25k policy limit
- Website recovery services (for denial of service attacks)
- Cover for cyber business interruption and ‘dependent business interruption’ costs – covering failures in the supply chain
- Cover for Payment Card Industry (PCI) costs – due to a security breach that involves credit or debit card numbers
- Cover for costs to regain access to, replace, or restore data incurred as a result of a security breach
- Cover for infringement of physical property
- Optional covers: Cyber extortion costs & cybercrime cover
“Ensuring that security and insurance companies work cohesively with each other is a crucial facet of providing the holistic protection for SMEs they so desperately need,” said Jamie Ahktar, Co-Founder and CEO at CyberSmart. “A small business in the UK is hacked every 19 seconds, with dire consequences both from a security and insurance perspective in many instances. By continuing to build cross-industry partnerships such as this, CyberSmart and Superscript are ensuring that businesses have access to the information and expertise they need to stay secure, and are equipped to deal with the consequences should a breach occur.”