Bermuda-based Endurance has launched a new data breach product, Breach Assist, which will provide insureds with coverage for legal costs, forensic analysis and customer interaction following a data breach.
The product launch comes hot on the heels of well-publicised losses at the likes of Target and Sony.
Breach Assist will sit alongside and complement Endurance’s Premier Professional offering and is aimed at retail, healthcare, financial institutions and professional services firms.
Coverage being offered by the new product includes: legal counsel, forensic investigation, legal advice and public relations expense, communications to regulatory agencies and customers; call centres to handle customer inquiries; and credit monitoring and restoration services.
The coverage can be calibrated either to a dollar amount or to the number of affected individuals.
Commenting on the introduction of Breach Assist, Douglas Worman, CEO, US insurance at Endurance says: "The launch of this new cyber liability product demonstrates Endurance's commitment to this developing risk area. Our dedicated team, which includes a number of industry leaders in this space, expects to introduce additional innovative solutions to meet the evolving network security and privacy needs of the market."
Endurance, cyber, data breach, insurance