Data Breach Coverage

  
The Problem

Are you making efforts to protect your Insured's for the new Mass Privacy act law that takes affect March 1st, 2010?

Despite valiant efforts by businesses to secure their computer systems and other proprietary information sites, with data theft is on the rise they remain prime targets. When a security system fails, how can a company recover from a data theft incident?

The Risk

Loss of confidential customer and/or employee data, which could lead to costly lawsuits and erosion of trust and reputation.

The Solution

Data Breach Coverage offered through XS Brokers and our markets. Helping businesses recover after an incident of data theft.
The Advantage   
Low minimum premiums: starting at $1,500
Liability coverage for identity theft, breach of privacy, failure to protect confidential client data, transmission of spyware, viruses and other malicious code
Covers unauthorized access and potential unauthorized access to the named insured's laptops, back up tapes and other storage media, including paper records
Definition of "unauthorized access" includes access privileges gained by fraud or deception and unauthorized use of access privileges by authorized users, including employees
Full liability limit available for defense of proceedings instituted by privacy regulators and the portion of privacy regulatory settlements or judgments used to fund the payment of patient or consumer claims
Worldwide coverage
Punitive damages where insurable
Optional first party coverage of insured's costs resulting from unauthorized access includes the following:
Restoration of a network
Extra expenses incurred during recovery
Theft of money or securities and payment of extortion demands
Loss of business income-by endorsement
Supplementary payments coverage in addition to the limits, and not subject to the deductible, is available for the following:
Compliance with security breach notice laws
Voluntary credit monitoring
Public relations expenses
Optional electronic media coverage
  High level product expertise
  Forensic/incident response services from Fishnet Security as part of our claim handling process

Click here for an application

Contact Kim Laurino, Senior Underwriter of our Professional & Specialty lines department for further information at klaurino@xsbrokers.com or 617.471.7171 x 131		 Click on any of the “featured products” for further information