Aviva updates cyber products as risks evolve

Aviva has made a series of updates across its cyber insurance products, in a move it said is aimed at introducing “stronger, modernised cover to support a wider range of clients as cyber threats continue to evolve”.

The insurer said its Cyber Complete product – its broadest cyber protection policy – now benefits from clearer wording around artificial intelligence (AI) driven attacks, including deepfakes and digital impersonations, as well as expanded protection around cyber-enabled financial losses, including through social engineering scams.

It has also reinforced its business interruption protection to include interim payouts during recovery periods, both through direct attacks and supply chain disruptions.

Meanwhile, its Cyber Respond offering – a simpler product aimed at smaller businesses – gains additional cover for “common threats” such as identity fraud and telephone hacking.

The changes reflect the insurer’s growing appetite in the cyber market. Indeed, brokers trading its cyber products have seen indemnity limits recently increase from £2m to £5m.

Quickly evolving threats

Richard Taylor, head of cyber and technology at Aviva, said: “Cyber threats continue to evolve quickly and it’s crucial that our proposition evolves with them. We’ve expanded our appetite and strengthened our cover to help brokers support a wider range of businesses from a growing range of threats.

“From AI-driven attacks to disruption across the supply chain, cyber risk is a real concern for businesses of all sizes. Our updates are designed to give our clients confidence that in the event of an incident, they’ll be supported by wide-ranging and repeated protection and a team that understands the risks of today.

“Whilst cyber risk can appear complex and fast-moving, we’re committed to working with brokers to make it as simple as possible for businesses to stay protected.”