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Delta Insurance to launch cyber insurance across UK and Europe

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PerCy is being launched in partnership with Prospect Insurance Brokers

Delta Insurance is planning to launch a cyber insurance product called PerCy in the UK and across Europe, media reports said.

In order to launch the cyber insurance product, Delta is partnering with UK-based specialty reinsurance broker Prospect Insurance Brokers.

PerCy offers cover for individuals for various cyber risks including data loss and ransomware. Delta is launching the same in Asian markets through Delta’s Singapore office.

Delta Insurance managing director Ian Pollard told the media, “Our relationship with Prospect goes back around five years where we worked with them on our unmanned aerial vehicle (UAV) product, which was the first UAV policy to be launched in the New Zealand marketplace.”

“They were instrumental in helping us get that off the ground, and we got them involved in our personal cyber product around four years ago. They helped put the finishing touches on that from a capacity perspective, so this product is something we’ve worked on for a long time. All of the insurance solutions for cyber globally and in New Zealand are for businesses, and nobody was really addressing the personal or family aspect.”

He further added, “We’ve further refined that product over time, and we’ve developed our partnership with DynaRisk, which is a cyber security provider in the household and personal use space. They offer a range of risk management tools and services, and they help identify when personal or business information has been compromised.”

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