With limits of up to $250k, this optional extension is designed to cover against direct financial losses resulting from social engineering scams, cyber fraud, and phishing. For clients looking for higher limits, the coverage can also be paired with the social engineering and cyber fraud optional extension available within DUAL’s Cyber Insurance product - for a combined total limit of up to $500k.
Additionally, purchasing standalone Cyber Insurance grants clients automatic access to specialist cyber incident response support, helping to manage and mitigate the effects of social engineering fraud events.
Management Liability | up to $250k
Covers loss of money, securities or tangible property owned by the insured or in their care, custody and control (CCC) caused by social engineering, cyber fraud and phishing.
Cyber Insurance | up to $250k
Covers first party costs including incident response, business interruption, push payment fraud as well as loss of money or securities owned by the insured, or in their care, CCC caused by social engineering, cyber fraud and phishing.
Please note: The optional extensions are available subject to additional premium and meeting underwriting criteria, and are not automatically applied to renewals or new business. The optional extension under the management liability policy doesn't cover incident response, business interruption or push payment fraud.
For more information, please reach out to our Financial Lines Specialty Underwriting team.
*This change is subject to DUAL’s underwriting criteria and may be amended, withdrawn, or varied at any time without prior notice. Changes may occur due to shifts in market conditions, claims experience, regulatory updates, or internal risk appetite.
Any product information discussed in this blog is subject to the terms and conditions of the policy, eligibility criteria, any additional premium for optional cover, limitations and exclusions.
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The information contained in this blog is intended for licensed insurance brokers and other authorised intermediaries only. DUAL issues insurances on behalf of Certain Underwriters at Lloyd’s of London and/or Allianz Australia Insurance Limited, acting as their agent. The information is of a general nature and does not take into account the objectives, financial situation or needs of any person. It is intended for the use of professional intermediaries who are expected to consider whether it is appropriate for their clients. Before recommending or offering any insurance product, intermediaries should read the policy wording, relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) and assess whether the product is suitable for their client’s circumstances. These are available on request or via our website at DUAL Australia.