NFU Mutual adds cyber cover to bespoke insurance

NFU Mutual will be including personal cyber cover as standard for new bespoke home insurance customers.

The move is aimed at strengthening the company's position in the high net worth market, with NFU Mutual Bespoke offering a tailored approach to home insurance designed for those properties that have high-value contents such as fine art, jewellery and collections.

The embedded personal cyber cover incorporates a 24/7 helpline and data restoration services delivered by partners CyberScout and Ontrack.

If the issue cannot be solved over the phone, the cover will also insure customers financially against the five most common types of cyber risks up to £50,000, including: cyber attack, ransomware, identity theft, cyber crime, and smart devices.

Nick Wilmot, bespoke manager at NFU Mutual, said: “We have designed this cover in direct response to the increasing cyber risks our customers are facing, due to their digital and technology exposure and the growing sophistication of brazen criminals looking to reap higher rewards from wealthy individuals.

“Even the savviest of customers still feel anxious and vulnerable to cyber crime, in particular that their bank account and identity can be compromised, and customers told us that they wouldn’t know what to do or who to turn to in the event of an attack."

Phil Bridge, president of Ontrack, added: "No one is safe from cyber attacks or ransomware - it impacts everyone - more personal data is being produced than ever before and its loss can have devastating implications for its owner."

NFU Mutual’s Personal Cyber cover will be included in new business bespoke quotes from today. Any existing customers and policies quoted prior to 15 June will see Personal Cyber cover added to their bespoke policy at renewal starting 1 September.  

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