Chubb expanded its cyber risk engineering capabilities in the U.K. and Ireland. QBE North America gave clients a new endorsement as part of its Product Liability product offering. Lockton is now offering a corporate terrorism cover, in conjunction with a slew of London market insurers.
QBE North America unveiled a manufacturing E&O endorsement to its Product Liability product offering, by way of its Commercial Insurance business.
The new endorsement is a Claims Made coverage form designed to give broad coverage on a simple rating basis. As well, it also closes a gap in the Commercial General Liability product by offering coverage when a manufacturing product fails because of a flaw in the design or manufacturing process and causes financial harm, even without bodily injury or property damage.
QBE North America, a division of QBE Insurance Group Ltd., said the new benefits are many, such as a 60-day extended reporting period that can be increased to 5 years.
Chubb has expanded its cyber risk engineering capabilities in the U.K. and Ireland.
Plans call for Chubb’s U.K. and Ireland dedicated cyber risk engineering team to provide cyber policyholders across all industry segments with risk engineering and loss mitigation services.
Risk engineers will engage directly with customers to better understand their cyber risk exposures and work to help them improve their cyber risk management profile. Additionally, the team will offer cyber training sessions throughout the U.K. and Ireland for customers and distribution partners. Previously, these services were available only for clients in the info tech sector.
Chubb’s Cyber Enterprise Risk Management also includes immediate incident response when a cyber event occurs. Policyholders have access to the Chubb Cyber Incident Response Platform, a single point of contact and a 24/7 incident response platform to report cyber incidents, supported by Crawford & Company, a global leader in claims and crisis management.
The service also allows for incident managers who will help insureds deal with the complexities of a cyber incident, that can help them gain access globally to crisis management service providers.
Lockton is now offering a corporate terrorism cover, in conjunction with London market insurers Hiscox, Beazley, Talbot and XL Catlin.
The new policy – dubbed Terrorism Crisis Solutions – is designed to cover a wide range of threats, and combines the underwriting teams from the London Market’s terrorism insurers into one modular product.
Terrorism Crisis Solutions is designed to let clients choose from covers such as sabotage and terrorism for both property damage and liability; financial protection when a client is affected by an insured event; threat of a malicious act, nuclear, chemical, biological and radiological malicious acts; active assailant, active shooter, workplace violence and stalking threats. Also covered: riots, strikes and civil commotion.
Sources: QBE North America, Chubb, Lockton