Berkshire Hathaway Specialty Insurance launched two new policies that provide cyber liability and breach response coverage with risk management resources.
The second option is designed to provide E&O coverage for technology and specified miscellaneous services. But the two plans each have multi-faceted network security and private liability insurance/risk management resources, with the idea of tailoring coverage for technology companies, financial institutions, law firms or other professional services companies.
Both policies carry features including coverage for third party exposures resulting from data security and privacy breaches (including regulatory investigations, fines and penalties), breach expense and extortion threat coverage, media liability coverage and business interruption coverage. There’s also online access to eRiskHub – a service that offers tools and resources for policyholders to understand cyber exposures, develop a response and to mitigate the impact a cyber breach can cause.
Ironshore Specialty Casualty’s Construction unit unveiled a suite of new endorsements for construction projects.
As envisioned, the endorsements are available for wrap (OCIP and CCIP), project specific and owner’s interest development. They’re designed to offer comprehensive coverage options for project owners, general contractors, joint venture entities and real estate developers. Clients can also further expand coverage to include extended completed operations.
The coverage enhancement options are underwritten on the standard ISO general liability policy form, with primary limits up to $2 million per occurrence, and $4 million on an aggregate basis.
Sources: Berkshire Hathaway Specialty Insurance, Ironshore