Philadelphia Insurance Companies just started offering a cyber security liability endorsement. Everest Insurance launched a new group focused on the international needs of its business clients. A division of ANV boosted its Lloyd’s underwriting capacity for mergers and acquisitions insurance. Maritime Program Group unveiled a new Ocean Marine Cargo facility.
Philadelphia Insurance Companies is now offering a Cyber Security Liability Endorsement.
The coverage provides both first and third party protection for a number of business classes, and can be added to most Philadelphia Insurance Companies’ commercial package policies with general liability coverage.
Available coverages include security event costs, network security and privacy liability coverage. There’s also employee privacy liability.
Everest Insurance, part of Everest Re Group, recently launched its Multinational Insurance Group.
The new division provides property, casualty, business travel accident and kidnap ransom/extortion insurance products and services, with a goal of covering an insured’s operations outside of the U.S.
Plans call for delivering the coverage either by a global extension or controlled master programs, by way of Everest’s brokerage network.
ACE veteran Doug Guenther will run the division, with the title of Head of Multinational at Everest Insurance.
ANV Global Services Ltd has boosted its Lloyd’s underwriting capacity for mergers and acquisitions insurance.
The international managing general underwriter of global specialty insurance group ANV said the line will now offer a limit of €40 million, $40 million and £30 million per risk. This marks an increase of 10 million in each currency, compared with previous limits set in March.
ANV’s Barcelona and London-based M&A team focuses primarily on bespoke warranties and indemnities insurance for commercial and financial clients across the European and UK markets. The company’s Lloyd’s syndicate, ANV 1861, continues to provide the majority share of the capacity under the MGU’s Lloyd’s binding authority.
Maritime Program Group, a program administrator focused on marine insurance products and underwriting services, launched a new Ocean Marine Cargo facility.
MPG is underwriting Ocean Cargo with North American Specialty, an A+ admitted security by Swiss Re. Target clients include small- to medium-sized clients with relevant cargo transit and storage exposures.
Minimum premiums start at $1,000, and MPG will consider ocean cargo risks associated with manufacturing, technology, agriculture, pharmaceutical and retail.
Sources: Philadelphia Insurance Companies, Everest Insurance, ANV and Maritime Program Group.