The Navigators Group, Inc.'s principal underwriting agency subsidiary, Navigators Management Company, Inc., has launched a new cyber liability and privacy/data breach coverage product, providing pre- and post-breach solutions to cyber liability and privacy/data breach events in response to heightened demand.
“Cyber security is front-page news and every day we read about another business or government agency that has fallen prey to new, complex, and increasingly sophisticated cyber crime,” said Stuart M. Kohn, the vice president of Navigators' specialty professional liability division and cyber liability and privacy/data breach coverage practice leader.
Navigators said that its product, NAVSecure, provides third party cyber liability coverage for liability arising out of a company's media content, network security, and data privacy wrongful acts, and includes key features such as:
- Coverage for expenses arising out of a privacy breach that include notification costs, crisis management, credit monitoring, identity theft restoration, regulatory and PCI fines and penalties, data restoration, and network extortion attempts;
- An option for notification costs outside the limit of liability;
- Access to a host of pre- and post-breach services via online platforms, including the ability to instantly report a breach or make a claim;
- Pre-breach consulting services provided through partnerships with a panel of security vendors; and
- Post-breach responses coordinated by Breach Coach and vendors from privacy law firms and breach response firms, including AllClear ID, Baker Hostetler, Cozen O'Connor, Experian Data Breach Resolution, Immersion, InfoLawGroup LLP, Kroll, Lewis Brisbois Bisgaard & Smith LLP, and NetDiligence.
Learn more: www.navg.com.