Press release

Chubb launches end-to-end risk management solution for cyber threats in Thailand.
Jun 4, 2019

4 June, 2019  – Bangkok, Thailand   Chubb announced today the launch of its Cyber Enterprise Risk Management (ERM) solution in Thailand.

In today's connected environment, cyber security is a widespread concern. Despite the higher incidences and losses associated with cyber breaches, businesses may not fully understand their cyber and data privacy risks until an event occurs.

Beyond a simple policy, Chubb’s Cyber ERM is structured to offer an end-to-end loss control and risk management solution to clients – from helping them understand what leads to cyber incidents and how to prevent them prior to the policy inception; to offering guidance in the case of a cyber incident to minimize losses and manage reputation.

Chubb’s Cyber ERM solution has the following benefits for clients:

  • Access to Chubb Global Cyber Practice, a specialist network of cyber risk professionals from around the world, coupled with the personalized touch of local underwriters. Chubb’s underwriter helps clients understand and measure their risk exposures, in order to customize coverage more effectively.
  • Simplified policy structure and language, bringing together in one wording the key elements of first-party cover and third-party cyber liability cover, including: business interruption loss, data restoration, cyber extortion, liability arising from privacy and security incidents, as well as crisis response expenses
  • Dedicated 24/7 incident response teams to assist clients in a crisis resulting from a covered cyber incident

According to Mr. Edward Kopp, Country President of Chubb’s general insurance business in Thailand, “While cyber insurance may be relatively new in Thailand, Chubb has been a pioneer in the cyber insurance marketplace for more than 20 years. The launch of Cyber ERM is timely as we witness the rapid advancement of technology in all sectors. Increased dependency on technology and connectivity has exposed businesses to greater risks like cyber breaches and attacks. This is why businesses need an experienced risk management partner, like Chubb, as we have extensive knowledge of cyber risks and claims as well as deep local expertise.”

“Cyber attacks are costly affairs, and businesses can no longer ignore the significant reputational and financial risks that come with it. Through Cyber ERM, we offer both a loss control and risk management solution, beyond insurance coverage, to minimise the exposure in the first place,” added Mr. Kopp.

Product highlights are summaries only. Please see the actual policy for terms, conditions and exclusions. Products and services may not be available in all locations, may vary by location, and remain subject to Chubb's underwriting criteria.

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, 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, Paris and other locations, and employs more than 30,000 people worldwide.

In Thailand, Chubb Samaggi Insurance Public Company Limited provides a comprehensive range of insurance solutions for individuals, families and businesses, both large and small.

As a key player in the local general insurance market, its product offerings include Accident & Health, Fire and Property, Motor and Specialty insurance products for retail clients. In addition, Chubb Samaggi provides Property, Casualty, Construction, Marine and Financial Lines insurance for corporate clients.

Chubb Samaggi offers its products and services through a multitude of distribution channels of which direct marketing is its forte. Other channels include banks, brokers, agency and a branch network nationwide. 

The company’s market leadership is largely attributed to its strong partnerships with financial institutions as well as leading companies; the clients and employees of which benefit from tailored protection policies.  

Additional information can be found at www.chubb.com/th

 

 

For further information: Media Contact Nitjawan Khooha : 66(0) 2611-4040 #5129; nitjawan.khooha@chubb.com / Kullanit Naklekha : 66(0) 2611-3868; kullanit.naklekha@chubb.com Chubb Samaggi Insurance Public Company Limited 2/4 Chubb Tower, 12th Fl., North Park Project, Vibhavadi-Rangsit Rd., Thung Song Hong, Laksi, Bangkok 10210