New Dawn Risk Launches Cyber Product Addressing Healthcare Privacy
PRODUCT: Healthcare Protect.
COMPANIES: Lloyd’s Syndicates.
BEST RATING: A+
AVAILABILITY: Appointed agents and brokers only.
FOCUS: Specialist Lloyd’s broker New Dawn Risk recently announced the launch of a new cyber product designed specifically for healthcare, life sciences and pharmaceutical organizations across the U.S.
The product builds on New Dawn Risk’s specialist cyber capabilities and experience structuring solutions for complex, regulation-driven exposures within the U.S. market.
New Dawn Risk will offer an additional aggregate limit for regulatory fines and penalties, designed to safeguard the main cyber policy limit from erosion in the event of a privacy‑driven loss. This enhancement reflects rising demand from insureds for more robust protection.
EXCEED and EXCEED Onboard help employees learn, grow and Stay Up to Date.
“Healthcare organizations are under unprecedented scrutiny around how they collect and manage sensitive data,” said James Bullock-Webster, head of tech, media and cyber at New Dawn Risk. “Fines and class-action litigation are on the rise, and clients want confidence that their core cyber coverage will stand up when these issues arise. This new product was built with that reality in mind, to protect the integrity of the main policy limit while delivering a meaningful layer of additional financial support.”
COVERAGE DETAILS: Coverage details include enhanced cyber and crime protections, with coverage for cryptojacking, computer crime, social engineering, telecommunications fraud, TCPA exposures and betterment costs. It offers broader data and privacy coverage through an expanded definition of personal data, including biometric and genetic information, removal of biometric exclusions and affirmative wrongful collection coverage.
The product also provides improved regulatory and reputational protection, with dedicated additional limits for HIPAA, BIPA and CCPA fines and penalties, plus carve-backs for media exposure and consequential reputational harm.
“What sets this product apart is the inclusion of sector-specific enhancements,” added Freya Hide, tech, media and cyber broker at New Dawn Risk. “It was designed to respond to the unique operational and regulatory pressures facing organizations holding large volumes of patient and biometric data. Clients need cyber coverage built around their specific exposures; this offering reflects New Dawn Risk’s commitment to designing products that respond directly to ongoing market challenges.”
UNDERWRITING: To be considered, applicants must submit a full cyber application, including the Healthcare Protect application and wrongful collection set, along with loss runs and claims history. Minimum premiums are generally expected to align with the broader London market, at about $10,000 per $1 million in coverage, though pricing will vary by client.
TARGET: Middle-market and large-sized entities within the healthcare, life sciences and pharmaceuticals sectors based in the U.S., Canada, the EU and the U.K. Target sub-sectors include hospitals, localized health systems, clinics, dental, rehabilitation centers, assisted living, long-term care, pharma logistics and distribution and downstream and upstream pharma.
COVERAGE TERRITORY: U.S., Canada, the EU and the U.K.
COVERAGE AVAILABILITY: All U.S. states.
CONTACT: Freya Hide, tech, media and cyber broker, New Dawn Risk; +44 7361 831040.
Will Jones is IA editor-in-chief.
Categories
Insurance Markets
This month’s issue
The August issue is out now!
