XL Catlin and a partner will start marketing new coverage to U. Public officials, educators and law enforcement agencies. Allianz Insurance beefed up its directors and offers coverage with added elements. Zurich North America and Deloitte will team on a number of new cyber risk services for clients.
XL Catlin’s insurance companies and Professional Governmental Underwriters Inc. will offer public entity management and employment practices liability insurance to U.S. public officials, educators and law enforcement agencies.
The agreement calls for PGU to offer the following coverages through XL Catlin insurance companies:
- Educators legal liability and employment practices liability, for colleges, universities, and also public and charter, parochial and private K-12 school systems. Policy protections address issues such as hiring discrimination, defense of non-monetary actions related to special education, redistricting and employment practices.
- Police professional liability insurance: This insurance policy provides coverage for acts, errors, and omissions that occur while officers perform their professional duties.
- Public officials liability and employment practices liability: This policy is tailored for any municipal governmental entity including, but not limited to, cities, towns, townships, boroughs, counties, villages, special service districts, authorities and commissions.
Allianz Insurance, the UK subsidiary of Allianz SE Group, said that it has enhanced its directors and offers coverage with added elements.
The new/enhanced cover includes kidnap and ransom, an employment practice helpline, and protection for IT security/data protection officers after a D&O claim stemming from a cyber event.
There are also increased cover limits including court attendance costs, reputational crisis cost and company entity liability.
Two new products cover new offerings, including “Complete Directors and Officers,” which offers flexible e-trading via QuoteSME and provides the option to add further management liability covers; and “Directors and Officers Select,” which targets medium to large businesses with cover either as a standalone product or as an optional selection within Allianz’s Commercial Select proposition.
Zurich North America and Deloitte will team on a number of new cyber risk services for clients.
Their collaboration will have initial offerings including risk transfer options from Zurich and risk mitigation options from Deloitte Risk and Financial Advisory Cyber Risk Services.
Businesses carrying Zurich’s Security & Privacy insurance coverages can now access a manure of pre-breach cyber risk assessment and management services through Deloitte to help understand their level of cyber exposure and resilience. Services include standards-based risk assessment of an organizations threat detection and rapid incident response capabilities, plus risk mitigation recommendations for customers.
Also, Deloitte customers trying to become more cyber resilient can now balance their risk mitigation options through Deloitte with risk transfer options from Zurich.
Both Zurich and Deloitte will develop additional joint capabilities to be phased in over time in tandem with the evolving cyber insurance market.
Sources: XL Catlin/Professional Governmental Underwriters Inc., Allianz, Zurich North America/Deloitte