From 1st June, Pen Underwriting will give all new and renewing cyber policyholders access to its new cyber protection platform, Pen Protect. It will offer them a suite of risk management tools to enable them to be more resilient to cyber crime and to reduce their risk of data loss.

Ian Summerfield, head of cyber at Pen, said: “Many companies still underestimate their vulnerability to cybercrime, believing they either won’t be a target or are more secure and resilient than they are. This can make recommending cyber as an essential cover alongside property and liability insurance a challenge for brokers despite its proven interlocking benefits of risk prevention, breach response and indemnification.

“Our aim in enhancing Pen’s risk management offering is two-fold. First, to help brokers win and retain business by offering their clients tailored risk solutions they can’t get elsewhere, whose benefits can easily and persuasively be demonstrated. Second, to proactively help insureds identify, address and reduce their exposure to cyber risk and avoid the business cost, disruption or even paralysis that all too easily flow from a successful cyber incident.”