We are pleased to announce the new Cyber Security & Privacy insurance coverage which acts as an attachment to our professional liability insurance policies. Cyber security is a growing concern for many people, and we believe offering this risk solution will help protect your private data.
When we think of cyber security and privacy, we often think of complex internet technology or hacking. But not all cases are so complex. Take for instance the following example from Canada: “A hospital employee breached the organization’s policy by taking files home on a USB key, which was then misplaced or lost. The data included names of 25,000 patients, a summary of their medical records, the treatment they received, the date of the service and the name of the doctor they visited. The hospital likely had to incur significant remediation costs for this privacy breach, both to notify the clients and to retain a company to protect the privacy and identity of its clients. There is also a strong likelihood that one of the hospital’s clients may sue the hospital for damages.”
Coverage
This new professional liability insurance attachment is designed to protect professionals against Network Security Liability, Privacy Liability and Electronic Media Liability. It also covers remediation expenses that may be incurred as a result of infringement, security breach, privacy breach and data personal injury.
Eligibility
The new Cyber Security & Privacy endorsement is available for attachment to our following policy types:
- Architects and Engineers Professional Liability
- Directors and Officers Liability
- Miscellaneous Errors and Omissions, including medical, financial and insurance brokers
Please contact us for more details or to take advantage of this new risk solution.
