Emergence Insurance has released an update to its flagship Cyber Event Protection policy with the launch of CEP-005.1, continuing the evolution of its SME product to keep pace with rapidly changing cyber risks.
The updated wording builds on previous enhancements to Emergence’s core SME policy, delivering broader protection and added value for policyholders. Key features include any one incident limits, full-limit system failure cover, and full-limit non-IT contingent business interruption under optional cover. Optional Criminal Financial Loss cover has also been expanded to include physical goods theft, alongside other enhancements.
Emergence Chief Underwriting Officer Jeff Gonlin says continual policy improvement is essential in a fast-moving threat environment.
“Cyber risk doesn’t stand still, so our policy wording can’t either. CEP-005.1 reflects broker feedback and real-world claims experience, while giving insureds stronger protection and practical support to help them become better risks,” he says.
CEP policyholders continue to have access to cyber advisory services at no extra cost, including a virtual CISO, threat intelligence and dark web monitoring. These services are now delivered directly by Emergence, following a recent strategic investment that has strengthened its in-house cyber advisory capability.
The Emergence broker portal has been fully updated to reflect the CEP-005.1 wording, enabling brokers to quote and bind eligible risks quickly and efficiently.