QBE underwrites CyberFender for Singapore SMBs protection

It protects against security breaches, interruptions, and cyber extortion.

Singapore-based Cornerstone introduced CyberFender, a cyber insurance solution designed for small-to-medium businesses (SMBs).

Underwritten by global insurer QBE, the policy provides protection against cyber threats whilst integrating 24/7 cybersecurity services from ESET Small Business Security.

CyberFender offers coverage for data security breaches, business interruptions, and cyber extortion, along with incident response and recovery costs.

The inclusion of ESET’s cybersecurity protection aims to help SMBs defend against online threats, fraud, and data theft.

With SMBs accounting for 99% of enterprises in Singapore and nearly half of the country's GDP, digital security has become a pressing concern.

However, QBE Singapore’s SME survey revealed that 19% of businesses lacked cyber risk protection in 2024, up from 9% in 2023.

Cornerstone Managing Director Leonard Tan emphasised the importance of providing SMBs with comprehensive yet easy-to-use cyber defence tools, whilst QBE Singapore CEO Ronak Shah highlighted the increasing cyber risks faced by businesses of all sizes.

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