Canopius launches cyber-triggered spoilage cover for perishable stock

Canopius launched a cyber-triggered spoilage insurance product designed to cover losses when cyber incidents render perishable stock unsellable.

The coverage addresses spoilage caused by cyber events impacting systems that manage temperature, environmental controls, or quality conditions, including incidents involving ransomware, malicious interference, and operational or administrative errors. The product also covers spoilage resulting from physical damage caused by a cyber event.

The offering targets businesses operating in sectors including food and beverage, pharmaceuticals, life sciences, agriculture, logistics, and cold-chain services.

“Our Cyber-Triggered Spoilage cover addresses a clear and growing exposure for businesses that rely on controlled environments. As cyber incidents increasingly affect operational systems, losses can escalate materially based on the value of perishable stock that is no longer sellable. This product reflects our understanding of these emerging challenges, and our commitment to delivering smart, practical solutions for clients.” – Gemila Costin, Underwriter, Cyber & Technology, at Canopius.