Berkshire Hathaway Specialty Insurance is launching a new Commercial Crime Insurance product in Asia. CyberScout said it is expanding its Global Incident Response offering.
Berkshire Hathaway Specialty Insurance said it is launching Commercial Crime Insurance in Asia, a new policy designed to help companies address the exposures of a changing fraud landscape.
BHSI’s Commercial Crime Insurance policy offers concise contract language for commercial organizations and includes coverage for both traditional employee crime and external crimes, including funds transfer fraud, credit card fraud, forgery, and impersonation coverage, the company said. Impersonation coverage responds to losses arising when a perpetrator impersonates an employee, executive or business associate of the insured for the purpose of defrauding the insured.
The Commercial Crime Insurance policy also includes numerous extensions, including coverage for lost establishment fees an insured incurs to establish the existence and quantum of a loss.
CyberScout disclosed plans to expand its Global Incident Response offering.
The product now includes Breach Fulfillment Services and Incident Response Forensics that will help global cyber insurance partners and their policy holders more efficiently recover from a security incident.
CyberScout provides cyber risk analytics to insurers and reinsurers via a proprietary platform, and markets its technology as a way for carriers to strengthen their accumulation risk management and exposure measurement.
CyberScout’s Breach Fulfillment Services include options for businesses of all sizes around the world impacted by an incident resulting in exposure of sensitive customer and/or employee information. Fulfillment offerings are now available worldwide and include timely notification to affected parties, call handling, product fulfillment (e.g. dark web monitoring), identity theft insurance and more.
Sources: Berkshire Hathaway Specialty Insurance, CyberScout