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Brit Group Holdings has launched C360, a new cyber insurance product built for small and medium-sized enterprises. C360 addresses rising cyber threats to smaller firms within supply chains. Unlike standard offerings, C360 aims to provide simple, broad protection that covers evolving risks such as attacks on vendor networks and, through AI-driven tools, offers SMEs robust security in a complex threat landscape.
Jon Sullivan, Chief Underwriting Officer at Brit, said small businesses face increased exposure due to their role in larger ecosystems. “Small businesses are now at a greater risk of being targeted by threat actors, often due to their valuable roles in larger business supply chains. C360 provides the robust yet accessible protection they need to safeguard against a broad spectrum of cyber risks,” said Sullivan. His remarks reflect industry concern about SME vulnerability and limited internal security resources.
Unlimited Claims Coverage Sets C360 Apart
C360 uses an “Any One Claim” structure. This means policyholders can use the full policy limit for every claim, with no limit on how many claims they make. This approach removes the usual overall limits that often restrict cyber policies.
Adelle Gruber, Cyber Class Underwriter at Brit, “All businesses are reliant on data and technology to efficiently operate, and SMEs are no different. With a growing number of threat actors finding ways to infiltrate firms’ operations, it is essential the insurance industry responds with readily available and appropriate coverage.”
The policy covers data theft, business disruptions, and outages at key service providers. It also helps with business interruption by covering payroll and lost revenue. This matches current trends, where downtime often leads to financial losses.
Zero Retention And Immediate Incident Support
C360 has zero retention for emergency services and computer forensics, so policyholders do not pay anything upfront for these services. The 24/7 incident response hotline and cyber app give immediate access to help like data restoration, legal support, and forensic investigations. These features help businesses reduce downtime and recover faster after a breach.
C360 offers policy limits up to £5 million, and coverage starts as soon as the policy is active. For brokers, the process is simple. Risks up to £250 million can be quoted without referral, making service quick for both brokers and businesses.
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Cyber Insurance For Small Businesses Gains Strategic Importance
Cyber insurance is now essential for small businesses to stay resilient. SMEs are dealing with more threats like ransomware, data breaches, and third-party risks. C360 shows a move toward flexible coverage and support for frequent claims. Insurers are adapting their products to match current attack trends and the need for fast recovery.
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