Cyber Threat Insure, a repX authorised representative, has launched a professional indemnity product designed for managed service providers.

“The development of this product came from the stark realisation that so many providers have purchased ... insurance that will not respond to a claim for the simple reason the provider is not accurately represented to their insurer,” the AR said.

Managed service providers remotely oversee customers’ IT systems.

Cyber Threat Insure notes that securing “effective professional indemnity insurance for service providers is difficult, with the substantial majority of insurers declining to provide coverage”.

The business was founded by specialist insurance professional Kristopher Mudd and Daniel Boufarhat, who has led a managed service provider.

They say the AR is the “deliberate integration of our two unique disciplines … Daniel and his team define what is happening in practice by analysing how MSP services are delivered ... Kristopher and his team define how that practice is viewed through the lens of professional indemnity insurance and how it is underwritten, interpreted and tested when a claim arises.”

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