Cyber Ultra
Cyber Ultra is a cyber insurance product underwritten by NZI – a business division of IAG New Zealand Limited (IAG (Insurance Australia Group – Australia)), available in New Zealand. It is aimed at small and medium-sized businesses, mid-market companies and large enterprises. Coverage limits reach up to Bespoke per risk.. Policyholders get 3 bundled proactive services — Risk assessment, Incident response and Crisis management — designed to reduce breach risk before a claim ever happens. The carrier holds an AM Best rating of Not rated by AM Best.. It is distributed through insurance brokers.
Product Details§ 01
Advantages & Limitations§ 02
Advantages
- NZI: largest commercial insurer in New Zealand; business division of IAG New Zealand Limited; 160+ years insuring New Zealanders; part of IAG group (AA S&P rating).
- Broker-only distribution; NZI broker portal at secure.nzibrokerportal.co.nz.
- Online cyber risk self-assessment tool: nzi.co.nz/cyber-cover/assess-your-cyber-risk.
- Claims via broker; 24/7 claims line 0800 123 694.
- NZI Cyber Ultra: most extensive cyber cover; standalone comprehensive policy.
- Coverage: Privacy (loss of personal/corporate/employee information; cloud/ISP data loss; defence costs); System Damage (IT systems/records/data; retrieval, repair, restoration or replacement costs; external IT forensic/security consultants); Business Interruption (loss of profits from cyber event; no indemnity period restriction; 12-hour time excess); Computer virus, transmission and hacking (hacker/virus liability; data theft; phishing/DoS attacks; employee and third-party attacks); Computer crime (money/property crime losses; service provider system losses; rogue employee/third party); Multimedia liability (defamation, libel, slander; copyright/trademark/trade name infringement on digital and print; defence and third-party costs); Brand and personal reputation protection (PR consultancy costs for company brands and senior executives' personal reputations); Breach of statutory duties (eCommerce statutory duty breach; defence costs and compensation); Privacy fines and investigations (fines/penalties from privacy breach; defence and investigation costs); Privacy breach notification and loss mitigation (credit monitoring, identity theft monitoring, data restoration, forensic costs, legal costs).
- General: covers all subsidiaries (new and former); all directors, officers and employees (past, present, future); estate, spouse, heirs and legal representatives; free one-hour consultation with nominated practitioners.
Limitations
- NZ domestic focus; commercial lines only; broker-only.
- Business interruption subject to 12-hour time excess.
- Social engineering/FTF available as optional extension only (with mandatory internal training condition).
Contact & Response§ 03
Frequently asked questions§ 04
+Who is Cyber Ultra designed for?
Cyber Ultra by NZI – a business division of IAG New Zealand Limited targets small and medium-sized businesses, mid-market companies and large enterprises in New Zealand. Geographic scope: Domestic only..
+What proactive security services are included with Cyber Ultra?
The policy bundles 3 proactive services: Risk assessment, Incident response and Crisis management. These preventive services are typically included in the premium.
+Does Cyber Ultra help with NIS2 or DORA compliance?
NZI – a business division of IAG New Zealand Limited indicates the following NIS2/DORA support for this product: Not applicable..
+How can I buy Cyber Ultra in New Zealand?
Cyber Ultra is sold through insurance brokers — broker contact: https://secure.nzibrokerportal.co.nz/. Compare it with alternatives in New Zealand on Ryskly before approaching a broker.