Chubb expanded its Global Cyber Facility with endorsements for property and casualty. Ironshore Specialty Casualty formed a dedicated Oil & Gas Facility. The International Drone Racing Association launched primary coverage for drone pilots.
Chubb has expanded its Global Cyber Facility with a new suite of multiline cyber peril endorsements.
Introduced in 2015, Chubb’s Global Cyber Facility helps companies assess their cyber and data privacy risk, incorporates loss control services to mitigate losses, provides access to post-breach services, and offers up to $100 million in capacity—all in a single policy.
The Casualty endorsement provides Difference in Conditions (DIC) insurance to the scheduled casualty lead umbrella for cyber events, including provisional protection in the event of coverage disputes. The Property endorsement provides both DIC and Difference in Limits (DIL) insurance to the scheduled property policy for loss or damage related to cyber events.
Product offerings may vary by location.
Ironshore Specialty Casualty has formed a dedicated Oil & Gas Facility, named Ironshore Energy Solutions, to offer liability coverage for on-shore middle-market energy classes in the United States.
Ironshore Energy Solutions will provide up to $11 million in insurance capacity for General Liability and Umbrella coverages for complex sector risks. Target energy classes are on-shore oil and gas operators, contractors and small midstream companies.
Ironshore Insurance Services LLC, its specialty managing general agency, will deliver capacity to underwrite middle-market sector risk on behalf of six consortium insurance companies.
The International Drone Racing Association (IDRA) has launched a primary UAV aircraft liability insurance policy to cover drone pilots worldwide.
Included with the rollout of IDRA’s membership service, each member will be insured with a $1 million UAV liability coverage limit including operations for recreational use, UAS training for competitions and racing/competitions around the world.
There are three categories of memberships, determined by the quantity of drones to be insured:
- $165 for two drones.
- $215 for three drones.
- $265 for four drones.
IDRA can structure policies on an individual basis for those members who wish to insure more than four drones.
Source: Chubb, Ironshore, International Drone Racing Association