BOXX Insurance Launches Enhanced and Updated Cyberboxx Business 5.0
TORONTO, April 17, 2024 /CNW/ - BOXX Insurance, Canada's leading cyber insurtech, announced the latest release of CyberboxxTM Business 5.0, their flagship ALL IN ONE Cyber Insurance & Protection product. Providing the most effective combination of cyber threat prediction, prevention and cyber insurance coverage, Cyberboxx Business 5.0 provides superior coverages that recognize the interconnected nature of doing business today.
Aligned with BOXX's vision to make the world a digitally safer place, Cyberboxx Business 5.0 addresses the growing complexity of cyber insurance policies with a simpler and complete base form, making brokers' lives easier. The policy wordings are designed to make cyber insurance more accessible to the many businesses that are vulnerable to cyber risks.
"Traditionally a business's resilience used to largely depend on their own operational readiness. But in a connected and cloud-based world, businesses are increasingly exposed to third parties that can put them at risk. The all-new Cyberboxx Business 5.0 responds to this reality and secures a company's ability to do business; it makes them more resilient by resolving threats in real-time and gives them the tools to respond to a broader range of cyber events." said BOXX co-founder and CEO Vishal Kundi.
Enhancements and features include:
- Widespread event coverage – providing more certainty of coverage for businesses that depend on big cloud-based platforms
- Broadening coverage for all companies by removing complex security conditions in the wording, providing more coverage certainty for customers and brokers
- Breach response costs in addition to the policy limit – eliminating policyholders' concerns of exhausting their insurance, thus limiting their ability to recover
- Waiver of retention – rewarding businesses that report incidents to BOXX HackbustersTM promptly in the case of a suspected incident
- Widening the definition of the insured to include associated entities, which protects the client's business if an "associated entity" is cyber-attacked
Phil Baker, President of BOXX Canada & Chief Underwriting Officer said "As Canada's original ALL IN ONE Cyber Insurtech, our purpose is to help make digital protection easier - so brokers are better informed, and clients are always protected and empowered in an ever-changing cyber climate."
For Brokers who want to learn more about Cyberboxx Business 5.0, they can request to meet with a BOXX representative here.
BOXX Insurance Inc. helps businesses, individuals and families insure and defend against cyber threats. Privately-held with headquarters in Canada, BOXX has global offices in Toronto, Miami, Zurich, Dubai and Mumbai. BOXX Insurance is an award-winning global cyber protection and insurance provider.
We're not a typical company. That's by design. We're serious about making the world a digitally safer place; creating real, positive changes for our clients and partners, and building a lasting legacy, from what we create, inside the BOXX.
Every day we're improving the digital health of businesses, families and individuals around the world who rely on BOXX's solutions and services to predict, prevent and insure them against cyber threats.
For further information:
Sarah Madden
Growth Marketing & Communications Lead
[email protected]
SOURCE BOXX Insurance
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