Coalition has started marketing comprehensive coverage for healthcare companies. Brit Ltd. beefed up coverage options for one of its key cyber products. A division of AXA XL debuted its next-generation client portal.
Coalition, a cyber insurance company for small and midsize businesses, has launched comprehensive coverage for healthcare companies.
The healthcare-specific policy is designed to fully addresses the risk healthcare organizations face before, during, and after a breach—including full HIPAA compliance, in-house breach response, and restoration of digital assets such as patient information.
The coverage offering for healthcare organizations includes:
- Cost to comply with an OCR-mandated security assessment and program, as a result of a security failure or data breach that violates HIPAA privacy and security rules
- Restoration of digital assets, including sensitive patient information
- Business interruption from cyber attacks against the insured or their suppliers
- Consistent monitoring of network and information security
Coalition is backed by Swiss Re Corporate Solutions and Argo Group and provides companies with up to $10 million of cyber and technology insurance coverage in all 50 states and the District of Columbia. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and tools. Coalition is headquartered in San Francisco.
Brit Ltd. said it has increased the flexibility and limits of for Brit Cyber Attack Plus (BCAP), a cyber product designed to protect clients from the impact of physical damage arising from cyber attacks.
Launched over five years ago, BCAP combines first and third-party cyber coverage with cover for physical damage and ensuing business interruption arising from a cyber-attack. BCAP has now been substantially built out, offering physical damage cover due to cyber events alongside business interruption, data privacy and cyber liability coverage, with limits of up to $150 million. The coverage is offered to clients globally.
In addition, BCAP now gives clients increased flexibility and offers limits of up to $100 million for both stand-alone, non-physical damage, cyber coverage as well as coverage for physical damage only. BCAP is also able to offer coverages that are tailored to individual sectors, and the pressure points they face from cyber-attacks – whether a power plant or car factory. Additional features also include extensive risk management training tools and access to leading global cyber experts, including IT and forensic specialists, lawyers and crisis PR.
A division of AXA XL debuted its next-generation client portal, dubbed SiteForward.
The updated portal, launched by AXA XL Risk Consulting, is an enhanced web-based platform that offers a number of risk management capabilities and tools to help AXA XL insurance clients visualize their business operations, track potential risk exposures and gain insight to make informed risk management decisions.
With 24/7 access, AXA XL Risk Consulting’s SiteForward platform allows clients to generate multiple reports — available in English, French, German or Spanish– that combine industry standards, risk management strategies and loss control techniques with their own customer data.
It also offers up Risk Ratings and Global Engineering Account Rating (RQRs & GEARs) – based on construction features, sprinkler protection, water supply, surveillance, warehousing protection, special hazards, occupancy classes, management programs and pre-emergency planning — for each business location along with RQR & GEAR Benchmarking.
This enables AXA XL clients to identify where to focus risk management improvement efforts or additional investment; produce a shareable scorecard for any given location; spot weakness in their risk management program and help drive behavior to increase loss control and potentially lower a company’s total cost of insurance.
Source: Coalition, Brit Ltd., AXA XL