Arch Insurance Launches Cyber-Positive Management Liability Product

Arch Insurance Australia has introduced its Management Liability Plus product on the Sunrise Exchange, a platform used by over 80% of Australian brokers. This product stands out as it includes coverage for cyber-related exposures, unlike many competitors that limit or exclude such risks. The platform, which processes over 7.5 million transactions annually, has seen other insurers like Delta Insurance and Hutch Underwriting also listing their products. Arch's offering includes personal liability cover for directors and officers in the event of a cyber incident, as well as social engineering cover. This affirmative approach addresses the silent cyber risk that many policies fail to cover. The move comes amid rising standalone cyber insurance uptake among SMEs due to increasing cyber threats and regulatory pressures. Arch's unique feature is real-time LiveChat access to underwriters, enhancing broker support.

Key Points: • Arch Insurance's Management Liability Plus includes cyber-related coverage. • The product addresses silent cyber risks that many insurers exclude. • Real-time LiveChat access to underwriters is a unique feature for brokers.