Sompo International Holdings Ltd, the Bermuda-based specialty provider of property and casualty insurance and reinsurance, has announced a new tailored cyber insurance offering.

The company said that it will be available through its Sompo Global Risk Solutions unit, to meet the specific needs of small commercial and middle market clients in select industries.

Sompo said Cyber Suite is a unique solution tailored to small commercial and middle market clients, packaged solely with the property and/or general liability coverage available through Sompo GRS.

The programme is designed to help small and mid-sized businesses in the United States respond to a full range of cyber incidents, including threats of unauthorised intrusion into, or interference with, computer systems, damage to data and systems from a computer attack and cyber-related litigation.

Sompo said Cyber Suite provides financial protection for a broad range of data compromise response expenses as well as reimbursement for costs associated with the recovery from computer attacks.

Additional coverages provided through the programme include cyber extortion, misdirected payment fraud, computer fraud, telecommunications fraud, identity recovery, privacy incident liability, network security liability and electronic media liability.

Available to qualifying Sompo GRS small business and middle market clients in the real estate, hospitality, professional services, technology and life sciences industries, CyberSuite is also solely being offered as a package to small to mid-sized Asian-interest accounts operating in these same target industry verticals.

Michael Chang, CEO of Sompo Global Risk Solutions, said: “For many years, Sompo International has been a leader in offering cyber-risk management solutions on a global basis.

“Sompo Global Risk Solutions is pleased to complement these existing capabilities with the introduction of Cyber Suite as an innovative solution specifically for our small and mid-sized commercial clients in the industry verticals we serve.”

Sompo International Holdings Ltd is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda.