Brokers pick best cyber event protection product

Brokers have selected cyber insurance specialist underwriting agency Emergence for two gongs in the 2017 Insurance Business magazine’s Brokers on Underwriters Awards.

Emergence won the ‘Brokers’ Pick’ for its cyber event protection product and a silver medal in the ‘Cyber and information technology liability’ category.

Managing Director Troy Filipcevic said the awards recognised the Emergence team’s hard work and dedication over a long time. “Brokers tell us we have the market-leading proposition,” he said.

This year Emergence released a new cyber event protection wording that enables brokers to develop bespoke cyber programs for their clients. “We listened to brokers’ feedback that cyber coverage was the most important issue to them and we delivered on that,” Filipcevic said.

Emergence also delivered an expanded online portal that enables brokers to quote and bind cyber policies for more than 13,000 occupations for businesses with up to $75 million in annual turnover. Emergence has invested in staff and launched an education initiative that includes broker presentations, blogs and webinars to build broker partners’ cyber knowledge.

Filipcevic said the education initiative helped brokers have more informed conversations on cyber with their clients. “We recognise that service and technical expertise are important drivers for brokers, especially in an emerging product like cyber, which brokers are still trying to understand.”

He said the awards acknowledged that “when all you do is cyber, you get very good at it”. The 2017 awards add to Emergence’s 2015 ‘Brokers’ Pick’ win for its cyber product and a bronze medal in 2016 in the ‘Cyber and information technology liability’ category.