Kuala Lumpur, 17 April 2017 — Chubb announced today the launch of its Cyber Enterprise Risk Management (ERM) solution in Malaysia, offering one of the most sophisticated coverages against cyber threats for businesses ranging from multinationals to small and medium enterprises.
According to the statistic, cyberattacks in Malaysia have increased dramatically over the past decade. There are over 2.7 million botnet drones and malware infection attacks with over 9,000 cyber security incidents reported in 2015. This figure does not include cases that go unreported almost daily. As the government targets to increase Malaysia’s Internet penetration from the current 68% to 95% by 2020, more and more local organisations may be exposed to cyberattacks. Hence, it is crucial for businesses to protect themselves with a reliable cyberattack defence solution.
Beyond a simple policy, Chubb’s Cyber ERM is is structured to offer an end-to-end loss control and risk management solution to clients. It provides financial protection against business interruption loss, cyber extortion, liability arising from privacy and security incidents, as well as crisis response expenses. In addition, Cyber ERM policyholders have access to Chubb eRisk Hub, which is backed by a dedicated 24/7 incident response team to provide businesses with the necessary resources to help them mitigate their risks of a data breach or privacy loss and assist them in responding quickly should a security event take place.
“Cyber risks do not respect borders. They can strike anywhere, at any anytime, with global consequences for any organisation. That is why Chubb’s Cyber ERM is specially crafted to assist our clients round-the-clock in their time of need,” said Steve Crouch, Country President of Chubb Insurance Malaysia Berhad. “Our insureds will benefit from a simplified policy structure and language, bringing together in one wording the key elements of first party cover and third-party cyber liability cover. In addition, they will have access to Chubb Global Cyber Practice, a specialist network of cyber risk professionals from around the world, coupled with our local underwriters who will help to customise coverage that meets their needs. Our dedicated 24/7 incident response teams are also available to assist our insureds in a crisis resulting from a covered cyber incident,” he further added.
For more information about Chubb’s Cyber ERM, please visit https://www2.chubb.com/my-en/business/cyber-insurance.aspx.
Product highlights are summaries only. Please speak to a representative from Chubb or refer to the actual policy for terms, conditions and exclusions.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide.
Chubb’s operation in Malaysia (Chubb Insurance Malaysia Berhad) provides a comprehensive range of general insurance solutions for large corporates, small and medium-sized businesses, as well as individuals through a multitude of distribution channels. With a strong underwriting culture, the company offers responsive service and market leadership built on financial strength. Chubb in Malaysia has a network of 23 branches and more than 2,500 agents.
More information can be found at www.chubb.com/my.
+603 2058 3315
Chubb Insurance Malaysia Berhad
(formerly known as ACE Jerneh Insurance Berhad)
38 Jalan Sultan Ismail
50250 Kuala Lumpur