With Office for National Statistics data showing that almost 42 million adults in the UK are accessing the internet on a daily basis – not to mention the average number of internet-connected devices per household being more than eight – it’s no surprise that attention is now shifting towards offering personal cyber coverage to household insurance customers. Arc Legal Assistance has a new dedicated personal cyber support policy to provide householders immediate assistance following a cyberattack, access to expert support, and restoration services. The policy also covers legal costs for disputes relating to personal identity fraud and social media defamation, as well as credit monitoring costs if applicable. Underwritten by Europe, the cover is available either through an underlying home insurance policy or as part of a legal expenses insurance product. “The growth of personal cyber products in the UK market has predominately focused on high net worth customers,” said James Waddy, commercial development manager at Arc Legal. “We have developed an assistance-led, affordable option for a more general customer base that does not simply replicate these products but supports the customer to provide practical assistance and deal with the real risks they face. “Personal cyber support is an important addition to our growing portfolio of assistance-based products and services. It further demonstrates our ability to design and develop relevant solutions that add value and respond directly to the needs of our clients and their customers.” Provider of specialist legal expenses and add-on insurance products, Arc Legal manages more than 5.5 million motor legal expenses policies and over 2.4 million family legal expenses policies.
Arc Legal Assistance has introduced a household cyber insurance product aimed at individuals. The company is offering the service for $99 per year and covers up to $250,000 in losses from cybercrime. In the event of an attack, the offering will give policyholders assistance, access to experts and advice on restoration.