Emergence Insurance has released new cyber event protection policy wording.

It says the CEP-005.1 terms offer broader protection for SME policyholders. The policy now offers full-limit system failure cover; full-limit non-IT contingent business interruption under optional cover; any one incident limits; and physical goods theft under optional criminal financial loss cover.

“Cyber risk doesn’t stand still, so our policy wording can’t either,” chief underwriting officer Jeff Gonlin said. “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.”

CEP policyholders receive access to a virtual chief information security officer, threat intelligence and dark web monitoring. These are now delivered directly by Emergence after it invested in Sydney advisory business NSB Cyber.