Managing general agent Pen Underwriting has implemented six enhancements to its UK SME cyber proposition. Pen said the changes would maximise indemnity levels by removing sub-limits and lengthening restoration periods. It said the updated proposition better reflected the evolving exposures faced by SMEs.

As a result of the changes, Pen will now provide assistance and upfront financial support rather than make the client pay and seek reimbursement. It has doubled the period of restoration to 365 days and added additional cover for breach response costs. Cover for hardware, security upgrade costs and voluntary and regulatory shutdown are all now offered at full limit.

Ian Summerfield, managing director of international cyber, D&O and PI at Pen Underwriting, said: “These latest changes represent important and material enhancements, making it even more compelling for brokers to recommend Pen’s cyber insurance to their clients in a fast-moving competitive market.”

He added: “Cyber risk never stands still, so we won’t either. Few, if any, areas of business risk are evolving as quickly as cyber and every coverage enhancement we introduce responds directly to challenges, changes or complexities that UK businesses are facing.”