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The leading Insurance company
Bahrain Kuwait Insurance Company B.S.C. (gig Bahrain) announced today the revamp
of its Cyber Insurance Cover
As we are leaping in the digital
world, technology is rapidly progressing in our lives and data has become one
of the most important assets of any organization. And as any asset that the
organization protects against different risks, data should also be protected
“Our product is redesigned to ensure
that we provide our customers with the highest levels of protection against such
risks.” commented Mr. Manoj
Badoni Chief Underwriting Officer at BKIC.
Cyber Insurance Cover provides
First party cover, Third party cover, cover for Financial Losses due to e-Crime
and Breach Response Support. The First Party cover corporate clients for business
interruption loss from security breach or system failure, cyber extortion loss,
data recovery loss, and network liability.
“Moreover, the cover also
provides protection for Third Party Liability and legal liability which covers
Media Liability, Regulatory Fines/Penalties and Payment Card Liability with
adjoining associated legal defense costs. Most importantly in the event of an
incident or loss, our local and international dedicated team of cyber
professionals will provide you with legal services, computer forensic services,
notification services to parties, call center services, credit monitoring,
Identity monitoring, loss prevention solutions, public relations, and crisis management
expenses.” added Mr. Manoj.
Emlyn Hoods, Group Head of
Specialty Lines stated: “We are delighted and privileged as Bahrain Kuwait
Insurance Company and as Gulf Insurance Group to offer a first-rate SME Cyber
Insurance Product to our partners and clients in Bahrain and the wider MENA
region. Our offering not only meets the needs and demands of the risk exposures
faced by our commercial clients; particularly in Bahrain our SME Cyber
Insurance product aims to satisfy regulatory compliance too.
In addition to our SME Cyber
Insurance Product, Gulf Insurance Group have partnered with Cyber Security
leaders in their respective fields to offer world class pre-breach resources
and crisis management response supporting our clients every step of the way from
risk management to risk transfer. I have no doubt that BKIC will be a market
leader as the demand for Cyber protection grows matched by our colleague’s
enviable reputation for their solid technical knowledge and professionalism.”
Bahrain Kuwait Insurance Company
(B.S.C.) (BKIC) as the first insurance company in Bahrain to have been
interactively rated by an independent international rating agency and currently
enjoys A- (Excellent) rating of A M Best; transacting all classes of general
insurance, the major categories being Fire, General Accident, Engineering,
Marine Cargo, Motor, Group Life and Health.