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RLI Launches Cyber Liability Insurance for Medium, Large-Sized Firms
RLI’s cyber liability insurance offers both first and third party coverage options to protect medium-to-large sized firms against financial losses and damages resulting from cyber attacks and data breaches. Go to RLI News
LIU Designs New Policy for A/E With Data Breach Coverage
The enhanced policy protects design firms from wrongful acts incurred while providing professional services and from the consequences of a data breach or liability arising from the disclosure of private information as well as design-related information. Go to LIU News
Anatomy of a Cyber Risks Stress Test
‘A cyber risks stress test assumes the worst and considers how a business would respond if an incident has already occurred,’ says Linda Conrad, Head of Strategic Risk, Zurich Global Corporate, North America. Go to Zurich News
Aspen Names Head of International Cyber Risk
Aspen Insurance Holdings Ltd. said on Tuesday that it has named London-based Raheila Nazir head of international cyber risk. Go to Aspen News
Beazley and Munich Re Improve Cyber Coverage
Beazley policies will cover physical damage to property (excluded from most cyber insurance) and bodily injury. Go to Beazley News
Willis Provides Cyber Services for Healthcare Organizations
Willis Towers Watson and HITRUST educate cyber insurers regarding the use of the HITRUST CSF and CSF Assurance program for cyber risk. Go to Willis NewsMarsh
Marsh Launches New Global Excess Cyber Risk Facility
Cyber ECHO brings greater stability to the excess market with up to $50 million in “follow form” coverage for clients of any industry sector and risk profile. Go to Marsh News
New Cyber Insurance Market
BH Specialty, a subsidiary of Berkshire Hathaway Specialty Insurance enters cyber insurance market. Go to BH Specialty News
Beazley Practice Protect
Beazley Practice Protect includes cyber liability for law firms, which hold highly sensitive information on behalf of their clients. Go to Beazley News
XL Group Builds Data Breach Response Specialists Network
John Coletti, Chief Underwriting Officer of XL Group’s Cyber & Technology announced its network of prequalified breach response specialists to provide its cyber liability insurance clients with the market’s most comprehensive selection of industry experts to help navigate complex data breach issues when they arise. Go to XL Catlin News
Aspen Sees SMB Demand for Cyber Insurance
Mario Vitale, CEO of Aspen Insurance reports that small-medium size businesses is a growth business for cyber insurance. Vitale indicates “that hackers are becoming more sophisticated” and coverage and pricing for business interruption is a key consideration that insurers are confronting. Go to Aspen Insurance News
Hiscox Provides Coverage for Cyber Deception
Cyber deception coverage are losses incurred by employees tricked into transferring company funds and includes obtaining personal information via phishing, social engineering and confidence tricks over email, phone and other electronics. Go to Hiscox News
Liberty Mutual Offers Cyber Coverage for SMB Businesses
Liberty Mutual Insurance is providing cyber coverage for its commercial package and general liability policies for small and medium size businesses. Coverage includes Data Compromise Response Expenses, Data Compromise Defense and Liability, Attack and Extortion and Network Security liability. Go to Liberty Mutual Insurance News
Starr Offers Primary Cyber Insurance
Starr Companies is now offering its new primary Security & Privacy Risk Response insurance coverage for both first party and third party protection. Contact David Norfleet, Senior Vice President & Chief Underwriting Officer of Starr Surplus Lines Insurance Company. Call 646-227-6300 or go to Starr Companies News
Beazley Discusses Cyber Risk in Healthcare
Beazley highlighted an array of perils for healthcare providers in grappling with data breach risk at the American Society for Healthcare Risk Management (ASHRM) annual conference in Anaheim. Perils stemming from data entrusted to contractors, data targeted by hackers, and breaches investigated by regulators. Go to Beazley News
XL Expands Cyber Insurance with New Staff
John Coletti, Chief Underwriting Officer of XL Group’s Cyber and Technology insurance announced it is expanding its cyber insurance group by adding three new underwriters, Sean Donahue, Elissa Doroff and Richard Schulz. Call 212 915 7000 or go to XL Group News
Marsh Announces Cyber CAT Policy for Catastrophic Risks with AIG
Cyber CAT offers limits of more than $300 million above an SIR of $100 million and is aimed at large companies concerned about financial implications of a major loss. The Cyber CAT product also offers broader coverage than traditional cyber policies. Contact Bob Parisi at 212 345-6000.
Swiss Re Corporate Solutions strengthens its Cyber & Technology team
Swiss Re Corporate Solutions adds two new senior executives. Francois Brisson and Richard De Piero are appointed Global Head and Head North America, respectively, for this key line of business in the company’s Financial & Professional Lines segment. Go to Ridge Insurance Solutions Company News
New Cyber Insurance Market
Former U.S. Homeland Security secretary Tom Ridge has introduced a new cyber insurance product through Lloyd’s. Coverage is available up to $50 million. Go to Ridge Insurance Solutions Company News
BitSight Provides Independent Security Assessments for Cyber Insurance
BitSight Technologies announces its BitSight Security Ratings for Cyber Insurance. This first-of-its-kind solution enables insurance underwriters and brokers to make data-driven coverage decisions, while also delivering security value to the insured. Cyber insurance coverage is an urgent business issue for organizations and the fastest growing segment of the insurance industry following major security breaches at Target, eBay and Home Depot. Go to BitSightTech News
XL Group Adds New Policy Features to Cyber Insurance Policy
XL Group’s cyber insurance policy provides both liability and first party protection and new policy features protect insureds if they inadvertently violate a privacy law. For more information contact John Coletti or Scott Schleicher. Go to XL Group News
ACE Starts Global Cyber Risk Operations
Toby Merrill, Senior Vice President will be responsible for ACE’s new global cyber risk practice. Cyber attacks are a world-wide concern and can cause both financial loss to a company and reputation damage. In Europe, an ACE study noted that cyber risk was a top three concern for companies. ACE offers policy limits up to $25 million and can consider companies in most industries. Go to ACE Insurance News
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