Specialty insurer RLI Insurance Co. has created a Cyber Liability unit through its Executive Products group.
Underwriting directors Sean Scranton and Natasha Richard will lead the new unit, which will offer coverage for cyber exposures such as data breaches, data loss, malware attacks, disruption of service and cyber extortion.
RLI’s Executive Products group provides financial product policies and enhanced liability coverages on both a primary and excess basis.
RLI said the cyber liability insurance will be available in the third quarter of 2016.
Source: RLI Corp.