Cybersecurity Insurance: McGill & Partners Launch Battery Energy Storage Cover

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Cybersecurity insurance concept for battery energy storage systems, showing BESS facility with McGill and Partners logo and digital cyber risk protection overlay
New Cybersecurity Insurance Launched for Battery Storage Market

McGill and Partners has introduced a new cybersecurity insurance product for the battery energy storage market. The global specialty insurance broker developed this product to address the increasing risks associated with cyber threats in energy storage systems.

Why the Battery Sector Faces Cyber Risks

Battery Energy Storage Systems (BESS) have become an essential part of global infrastructure. Their increased reliance on interconnected networks makes them prime targets for cybercriminals. These attackers exploit operational dependencies and vulnerabilities in infrastructure.

Details of the New Cybersecurity Insurance Policy

The new cybersecurity insurance provides flexible, sector-specific coverage. It protects operations against the rapidly evolving cyber risk landscape. Certain Lloyd’s underwriters underwrite coverage.

According to Tom Dryden, Partner, Cyber at McGill and Partners, “As the cyber threat landscape continues to evolve, we are seeing greater demand from clients for industry-specific coverage. Cyber incidents and technical issues at battery energy storage systems are becoming increasingly relevant as these systems become more integrated into global critical infrastructure and smart grids.”

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The product includes bespoke terms tailored to BESS technology. It offers physical damage protection resulting from cyberattacks. It also covers business interruption losses and regulatory costs tied to changing cybersecurity and resilience standards.

Protection Features Included in the Cover

Clients will gain access to an emergency response team, which is available to manage incidents and minimize operational disruptions.

Dryden added, “At McGill and Partners, we work across different specialties, which enables us to develop tailored solutions that reflect the real-world exposures our clients face. We’re proud to develop a solution for a sector that plays a critical part in the energy transition, ensuring our clients are appropriately protected not just against financial losses from a cyber incident but are also equipped to respond decisively in moments of crisis.”

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Martin Hinton

Martin Hinton is the Executive Editor and Publisher of Cyber Insurance News and Information. With over three decades of journalism experience across six continents, his work encompasses investigative reporting, documentaries, and coverage of cultural, political, and business news. To learn more about his career, click on his name to visit his LinkedIn page.

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