Avast and OSR launch UK cyber safety insurance

Posted on 9 February, 2022 by Advance 

Digital security specialist Avast and cyber insurance provider Optimum Speciality Risks (OSR), have launched a brand new multi-generational cyber safety policy to protect UK households from cybercrime.

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The service, OSR: Home Cyber Plus, provides protection for digital and physical assets, data loss, breaches of privacy, identity theft and wellbeing for victims of online harm and malicious content. The policy includes a 12-month subscription to Avast Premium Security for up to 10 devices, and an emergency response helpline to contact dedicated cyber security experts if a security issue occurs.

According to Action Fraud's 2020/2021 report, over 31,000 cybercrime cases were submitted with reported losses reaching almost £10m, a 78% increase year on year. Throughout 2021, Avast Threat Labs team recorded spikes in ransomware, information stealers and tech support scams, and expects cybercriminals to make advancements in 2022 to ensure the effectiveness of their attacks against businesses and consumers.

"When people are affected by cybercrime it can be a traumatic and frightening time, however most people would not know who to call for help if an incident happens," said Sean Yeo, Managing Director at OSR. "With cybersecurity incidents unfortunately increasing all the time, it was important for us as a cyber insurance specialist to offer a service that provides customers with access to an emergency cyber response team to assist in crisis situations. Combined with a leading insurance package and comprehensive security and privacy protection from Avast, this will give peace of mind to all generations and will help them to feel confident and in control online."

The OSR: Home Cyber Plus policy includes the following cover as standard:

Avast Premium Security: antivirus and advanced online security for up to 10 devices, providing protection from device vulnerabilities, ransomware, fake websites, phishing scams, web spies and more

Digital Asset Protection: cover for digital data restoration, digital device replacement, loss of access to digital accounts and online extortion

Digital Theft Protection: cover for digital deception loss, such as instances of fraud, digital theft, such as the transfer of funds following unauthorised access to a bank account, and identity recovery

Digital Wellbeing: cover for reputational harm and emotional distress caused by malicious communications, and the removal of malicious content published online or on social media platforms

"Our goal is to build technologies and offer services that help people to get the most out of the digital world," said Patrick McKay, Partner, Avast. "Avast exists to protect people's digital freedom, a value also shared by OSR, which along with a deep understanding of the customer were significant contributors in the creation of the Home Cyber Plus policy. We believe it'll help multi-generations families and households in the UK feel safer, freer and more secure online."

The OSR: Home Cyber Plus policy is currently available in the UK through OSR partner insurance brokers, with two levels of cover offered to potential policyholders.