Thales, Allianz Partner for Insurance Policy Against Cyberattacks

Allianz Global Corporate & Specialty SE announced that it has partnered with Thales to offer companies a comprehensive insurance policy related to cyberattacks.

The Allianz Cyber Data Protect will cover the cost incurred from responding to a cyberattack, rebuilding the damaged information systems and losses from the service interruption, Thales announced Wednesday. 

Under the partnership, Thales provided its IT security risks analysis expertise and emergency response experience.

The policy’s Premium and Premium Plus enhanced options may cover up to approximately $68.1 million and assistance from the Rapid Response Team, Allianz said.

“Cybersecurity is an integral part of risk management for French companies today,” said Vincent Marfaing, Thales vice president of IT security and cybersecurity.

“Thales is delighted to be contributing its expertise to the Allianz Cyber Data Protect solution. This innovative policy stands apart from other products in that it offers a combination of preventive and remedial measures to optimise both the technical and financial aspects of the protection provided,” he added.