RLI Insurance Company and its executive products group have created a new business unit to offer cyber liability insurance.

The cyber liability insurance unit will offer protection for exposures arising from adverse cyber events including but not limited to data breaches, data loss, malware attacks, disruption of service, and cyber extortion.

“These types of cyber threats and incidents are increasing in frequency, sophistication, and volume and creating financial hardships for many companies,” said Chad Berberich, the vice president of the executive products group. “Our cyber liability unit will address this growing concern by offering critical protection for an organization's intangible assets such as electronic data, software, and intellectual property, which may not be covered under their current business insurance policy.”