Willis Towers Watson has introduced CyNat, a cyber insurance product designed specifically for companies in the power and utilities industries.
According to the broking giant, CyNat has been developed to cover the key industry exposures rather than trying to modify pre-existing generic cyber products. Power and utilities companies are among the most lucrative targets for cyber criminals due to the strategic importance of the sector. Also, due to the industry’s massive reliance on technology, an effective cyberattack can lead to significant financial damage.
CyNat includes the following key features:
- Cover for crisis management costs in the event of ransomware attacks