Cyber Extortion comes in many forms including ransomware and denial of service, to threats to disclose customer data or other confidential information. The financial amount involved is one thing, but such demands also exert enormous pressure on companies and loss of reputation is a real threat. Choosing a partner who can assist and respond when the need arises is an important first step in alleviating this.
This new product from Norwegian Hull Club protects against cyber threat and extortion for the Assured and its related subsidiaries covering the costs of extortion payments; and crisis consultants and other actors as deemed reasonable and necessary: negotiator, public relations consultant, interpreter, reward and other miscellaneous expenses. The cover can include Loss of Hire and Business Interruption. A Preventive Crisis Consultation, providing a Crisis Management Plan for the prevention of and response to insured events, is always included.
The critical element of this new insurance is our capability to respond and assist clients in case of cyber-attacks. To secure excellence we have established a partnership with NYA International, a well-established, leading global risk and crisis management consultant, for cyber extortion response, crisis management and loss prevention services.
When placing insurance with Norwegian Hull Club as Leader, an Assured has access to claims handling experience, service levels and competence of the highest quality. We handle claims and critical situations in the most professional way. We prioritize and make claims settlements much quicker than the industry average, through practical, solution driven claims handling and involvement from notification to final payment. We encourage teamwork together with the Assured and the broker.
Our world-leading contingency support and operational intelligence services are developed from handling 2.000 claims every year. We organize a wide variety of loss prevention activities for both ship and shore based staff, sharing experience from actual incidents, aimed at improving industry best practice.