Ascent launches SME extension

Ascent Underwriting has launched a general liability extension to its commercial products that are aimed at small and medium-sized enterprises (SMEs).

The managing general agent (MGA), which specialises in emerging risks, has designed the new coverage to bridge the gap between business risks associated with emerging cyber risk and more traditional exposures.

The product covers network security and professional risks and has additional modules covering general liability, which are written on an occurrence basis with a separate limit of liability.

General liability needs

Ascent director Gareth Tungatt said: “While it is vitally important to understand client requirements and provide cutting-edge insurance products for modern risks, the market should not overlook the continuing need for general liability coverage.

“Ascent’s ability to offer a comprehensive solution will eliminate some grey areas of coverage between cyber and traditional policies and ensure clients have access to comprehensive protection for both their current exposures and emerging risks.”

The new product complements Ascent’s range of solutions for professional and non-tangible risks. Ascent is planning to develop further new coverage during 2013, to enhance its niche product portfolio.