Berkshire Hathaway Specialty Insurance (“BHSI”) has unveiled two new policies providing cyber liability and breach response coverage with risk management resources, the professional first network security and privacy policy, and the professional first professional liability and network security and privacy policy. The latter also includes customizable errors and omissions (“E&O”) liability coverage, according to the company.
“Our experienced professional liability team is providing solutions to simplify for customers the complex work of managing professional liability and cyber exposures,” said Danielle Librizzi, senior vice president and head of professional liability. “We are pleased to bring to market comprehensive, flexible coverage backed by BHSI's commitment to service and financial strength.”
BHSI said that the highlights for both policies included:
- Coverage for third party exposures resulting from data security and privacy breaches, including regulatory investigations, fines, and penalties;
- Breach expense and extortion threat coverage, addressing the wide range of direct expenses an insured incurs to effectively respond to a breach or extortion threat;
- Media liability coverage, which responds to traditional media exposures (e.g. through a company's website) arising from electronic content;
- Business interruption coverage to pay lost income and related expenses incurred as a result of the insured's business' partial or full interruption due to a network security failure; and
- Online access to eRiskHub, which provides tools and resources to help policyholders understand cyber exposures, establish a breach response plan, and prepare to mitigate the impact of a breach on their organization.
Learn more: www.bhspecialty.com.