New Dawn Risk launches cyber product for U.S. healthcare privacy risks

Specialist Lloyd’s broker New Dawn Risk Group has introduced a cyber insurance product tailored for healthcare, life sciences, and pharmaceutical organizations in the United States, targeting rising exposure tied to data privacy regulation and litigation.

The product focuses on risks linked to Health Insurance Portability and Accountability Act (HIPAA) and state-level biometric laws such as Biometric Information Privacy Act (BIPA), where enforcement and class action activity have intensified. The offering was developed with capacity from an A+ rated Lloyd’s syndicate.

The policy introduces an additional aggregate limit specifically for regulatory fines and penalties. The structure is designed to protect the core cyber policy limit from erosion in privacy-related loss scenarios, reflecting growing demand from insureds facing stricter regulatory scrutiny.

According to the company, the product includes sector-specific enhancements aimed at organizations handling large volumes of patient and biometric data, where operational and compliance risks continue to increase.

The launch builds on New Dawn Risk’s cyber practice in the U.S., where the broker focuses on structuring coverage for complex, regulation-driven exposures across professional and financial lines.

“What sets this product apart is the inclusion of sector-specific enhancements. It was designed to respond to the unique operational and regulatory pressures facing organisations holding large volumes of patient and biometric data. Clients need cyber cover built around their specific exposures; this offering reflects New Dawn Risk’s commitment to designing products that respond directly to ongoing market challenges.” – Freya Hide, Tech, Media and Cyber Broker at New Dawn Risk.