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OneBeacon Professional Unveils New Network Security And Privacy Product

To help insureds with their need to protect data and private information

OneBeacon Professional Insurance (OBPI), a member of OneBeacon Insurance Group, has introduced a new Network Security and Privacy product. The product is targeted to all classes of business that store personal information including health care organizations, multimedia companies and retail companies.

David Molitano, vice president of technology, miscellaneous E&O and media liability at OneBeacon Professional Insurance, said: With the prevalence of company security breaches and ever-changing privacy regulations, there is a heightened concern around the safety of personal information. Our goal is to help our insureds with their need to protect data and private information by offering tailored insurance solutions and forward-thinking risk management services.

OBPI’s Network Security and Privacy insurance includes coverage options such as network security liability, privacy liability, first-party business interruption and website media occurrence liability coverage, all available to clients through one standard policy form.

For qualified accounts, OBPI will offer limits up to $10m and both primary and excess coverages are available. Specialized protection and features include coverage for certain website media offenses, innocent insured protection, worldwide coverage, breach notification costs coverage, regulatory claim coverage and extortion threat coverage.