OneBeacon’s International Marine Underwriters has expanded its cyber insurance options with a key addition to its coverage. Pie Insurance, a workers compensation insurance startup, has entered the California market.
International Marine Underwriters (IMU), part of OneBeacon Insurance Group, has expanded its product offering, adding information risk coverage to address a broad range of cyber incidents.
Expanded areas include data breach, threat of intrusion or interference with computer systems, damage to data and systems from cyber attack, and cyber-related litigation. Coverage is available as an endorsement to an existing IMU marine policy, including yacht club, marina and commercial marine package, and certain hull and protection & indemnity policies.
IMU’s cyber coverage includes first-party and third-party liability coverage for threats including data compromise response expenses, computer attack, cyber extortion, data compromise liability, network security liability, and electronic media liability.
Additionally, customers will have access to cyber-specific resources and services through eRiskHub, an online risk management portal designed to help customers prepare and respond to data breach and cyber attacks.
Pie Insurance has started selling workers compensation policies in California, which is now the ninth state in which the insurance startup does business.
The fledgling company began offering insurance policies in 2018, and its online workers compensation insurance products are targeted to small businesses.
The company relies on data analytics, easy-to-use online features and a seasoned team of insurance experts to craft its policies. Greycroft, Aspect Ventures, Sirius Group, Moxley Holdings and Elefun are backers.
Sources: OneBeacon Group/International Marine Underwriters, Pie Insurance